Business
Trading Update & Notice of Results
Trading Update & Notice of Results.
About this update from Tristel Plc
[{"type":"text","content":"\n \nRNS Number : 7813J Tristel PLC 22 July 2013 \n \n\nTristel plc\n(\"Tristel\" or the \"Company\")\n \nTrading update and notice of results\n \nTristel plc (AIM: TSTL), the manufacturer of infection prevention, contamination control and hygiene products, provides a trading update following the end of its financial year on 30 June 2013. Tristel addresses three distinct markets: Human Healthcare, Animal Healthcare and Contamination Control, with three distinctively branded product ranges: Tristel, Anistel and Crystel.\n \nTrading highlights\n· H2 revenues up by 40% on H1 \n· H2 adjusted* pre-tax profit in excess of £0.9m (H1 £0.6m loss)\n· Full year revenues of £10.6m and adjusted pre-tax profit in excess of £0.3m\n· Return to positive cashflow in H2\n \nThe Board is pleased to report that the Company has delivered an improved performance in the second half. Strong sales growth in combination with the restructuring programme completed in the first half has delivered a return to profitability and positive cash generation. As a result, the Company expects to announce H2 revenues 40% ahead of H1 revenues and adjusted* pre-tax profit of no less than £0.9m, representing a significant improvement on the loss of £0.6m at the half year stage. The full year adjusted* pre-tax profit will be no less than £0.3m, which is ahead of revised market expectations.\n \nTristel has also been cash generative in the second half with net cash of £0.5m at 30 June 2013 compared to borrowings of £0.4m at 31 December 2012.\n \nIn Human Healthcare, the Tristel instrument wipes and surface disinfection products are gaining increased acceptance within the UK and in overseas markets. International sales were £2.4m, representing 30% of total sales of Tristel branded products (£8m). The Company's subsidiaries in New Zealand and Germany were profitable in the year and have the potential for significant long term growth. The operation in China was streamlined in the first half and progress in the second half has been encouraging. During the past four years Tristel has built a growing presence in Russia, which is a key international healthcare market. The network of distributors will be serviced directly from the new...