Tristel lifts H1 pre-tax profit more than threefold
Shares in Tristel are up 10% after reporting a more than threefold increase in its first-half pre-tax profit, with revenue above its targeted range.
FTSE AIM All-Share
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Health Care Equipment & Services
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Tristel
465.00p
16:55 25/04/24
"We are progressing satisfactorily with our planned entry into the North American hospital market," said chief executive Paul Swinney.
Pre-tax profit was £1.7m, from £0.5m, reported the manufacturer of infection prevention, contamination control and hygiene products. Revenue had improved to £9.7m, from £8.0m.
"We are pleased to report strong half-on-half revenue growth which has been above our targeted range of 10-15%," said Swinney.
"We have also delivered the pre-tax profit margin of 17.5% that we target, even after costs of £0.2m incurred during the half in pursuit of our North American business plan."
Interim dividend was up 23% to 1.4p a share, from 1.14p.
At 13:12 GMT, shares in AIM-quoted Tristel were up 10% to 165p each.