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(Alliance News) - Tristel PLC said on Monday that its half-year results had been negatively impacted by now discontinued operations as it moved to refocus the business.
Shares in Tristel were down 14% at 357.20 pence on Monday in London.
The Cambridgeshire, England-based manufacturer of disinfectant products reported pretax profit of GBP1.0 million in the six months ended December 31. This was down 57% from GBP2.4 million in the same period the previous year.
The company explained that during the period it had refocused business on its chlorine dioxide technology and the hospital market to increase profitability as it exited the pandemic. As a result, it had discontinued its animal health and pharma/life sciences product ranges.
Its continuing operations are now Tristel, the company's medical device disinfection product, and Cache, its hospital surface disinfection product.
Profit from continuing operations for the half fell 36% to GBP1.2 million from GBP1.9 million the year before while its discontinued operations produced a loss of GBP2.2 million, widening from GBP716,000 the year prior.
Revenue from continuing operations also fell, dropping 7.3% to GBP13.6 million from GBP14.7 million the year prior. Tristel said that it expects its second half revenue from continuing operations to be higher though it did not specify by how much higher.
In addition, the company said it expects to return to the growth trajectory it was on before the pandemic looking forward as diagnostic procedures such as endoscopies and ultrasounds begin to return.
Tristel maintained an interim dividend of 2.62p per share.
By Heather Rydings; heatherrydings@alliancenews.com
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