17th Oct 2016 08:11
LONDON (Alliance News) - Infection prevention and contamination control products maker Tristel PLC on Monday reported a flat pretax profit for the financial year to the end of June, as growth in revenue was offset by one-off costs.
Tristel said it made a GBP2.6 million pretax profit in the year ended June 30, flat year-on-year. Revenue rose to GBP17.1 million from GBP15.3 million, but this was wiped out by higher share-based payments, impairment charges, and other costs booked by the company.
The company noted its revenue growth, of 12%, was slower than the 14% growth reported in the previous financial year, but said overseas sales had been strong. Tristel said it continues to focus on its chlorine dioxide products and expects sales to grow further in the future as more of its customers select chlorine dioxide as disinfection technology.
Tristel declared a total dividend for the year of 6.33 pence per share, up 11% from the 5.72p payout a year before. This includes a special dividend of 3.00p, which was flat on the special dividend Tristel paid the prior year.
"We made very solid progress during the year. International expansion continues to drive revenue growth, and we are succeeding in increasing profit margins, even whilst investing in new products and opening up new geographical markets, including North America. The progress we are making with the United States [Food & Drug Administration] and [Environmental Protection Agency], and Canada's [Health Protection Branch], is in line with the North American business plan we are developing," said Chief Executive Paul Swinney.
Shares in Tristel were up 0.5% to 160.75p on Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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