25th Feb 2015 08:41
LONDON (Alliance News) - Biotechnology company Tristel PLC saw its share rise Wednesday, after it reported a significant increase in both profits and revenue for the first half of the year, and raised its interim dividend by 63%.
The company, which makes infection protection, contamination control and hygiene products, reported a pretax profit of GBP1.0 million for the six months to end-December, up from GBP724,000 a year earlier, as revenue rose 15% to GBP7.4 million, from GBP6.4 million. The group said the growth came from all areas of the business, both in the UK and overseas.
"Tristel has enjoyed another strong performance during the first half. Encouragingly, this has come from all areas of the business, both in the UK and overseas. Our operations in Germany, China and Hong Kong, and Australasia, where we have our own people on the ground, are developing particularly well," said Chief Executive Paul Swinney in a statement, citing a 26% increase in international sales.
The group declared an interim dividend of 0.585 pence per share, a 63% increase on last year's 0.36p.
"The balance sheet and cash flow are very sound and we are well placed to continue the growth of our business," Swinney added.
Tristel shares were trading 6.5% higher Wednesday morning, at 81.50 pence.
In the group's statement, it said it ended the period with net cash of GBP2.9 million, up from GBP1.5 million last year.
Looking forward, Tristel said the business has a good geographical spread which will expand further as its establishes distributorships in more countries.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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