28th Apr 2014 08:00
LONDON (Alliance News) - Tristel PLC Monday said it has seen a strong start to the second half of the year across the business and is now confident that its pretax profit for the year will beat current market expectations.
The manufacturer of infection prevention, contamination control and hygiene products, said that positive trading momentum has continued throughout the year, which it expects to continue, and as a result is now confident of reporting a pretax profit for the year ending June 30, of no less than GBP1.5 million. This compares with an adjusted pretax profit of GBP0.4 million the prior year, adjusted for non-recurring items of GBP2.2 million.
"One recent success has been our inclusion in the NHS Scotland framework agreement for surface disinfectant products," said Chief Executive Paul Swinney in a statement.
Tristel also said that its balance sheet continues to strengthen, currently holding cash balances of GBP2.2 million, up from GBP1.5 million a the end of December 2013.
"The momentum that we have built since the beginning of 2013 is gathering pace both in the UK and overseas markets and across all three product portfolios," Swinney added.
Tristel shares rose 10% Monday morning, trading at 53.40 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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