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Tristel profit up 40% on higher sales of hospital surface disinfectants
StockMarketWire.com
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Contamination control product manufacturer Tristel posted a 40% rise in annual profit after the Covid-19 pandemic drove higher demand for hospital surface disinfectants.
Pre-tax profit for the year through June increased to £6.6 million, up from £4.7 million year-on-year.
Revenue climbed 21% to £31.7 million, as higher disinfectant sales offset a fall in medical device decontamination sales as elective procedures were postponed.
'During the first quarter of the current financial year we have experienced a gradual recovery in demand for our medical device products in all our markets as hospitals resume levels of non-Covid care,' chief executive Paul Swinney said.
'Since February, we have acquired a significant number of hospital customers for our surface disinfectant products.'
'We expect this build-up of our hospital surface disinfection business to continue throughout this and future years. It is a key strategic focus of the company.'
'We must recognise that further lockdowns, whether in the UK or in any of our other major markets, might temporarily interrupt our group's forward momentum, but our business model has shown its resilience during the past nine months, and we remain optimistic for the year's trading outlook.'
At 9:16am: (LON:TSTL) Tristel PLC share price was +17p at 515p
Story provided by StockMarketWire.com
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