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Tristel PLC (TSTL)

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Tuesday 15 December, 2020

Tristel PLC

AGM Statement and notice of results

RNS Number : 6230I
Tristel PLC
15 December 2020
 

 

Tristel plc

("Tristel" or the "Company")

 

AGM Statement and notice of results

 

Tristel plc (AIM: TSTL), the manufacturer of infection prevention products, will hold its Annual General Meeting at 10am at Lynx Business Park, Fordham Road, Newmarket, Cambridgeshire CB8 7NY. It will be a closed meeting due to COVID-19 restrictions.

 

Paul Swinney, Chief Executive Officer, will address the meeting with the following update:

 

"We expect unaudited first half pre-tax profit (before share-based payments) to increase by 10%, being no less than £3.3 million compared to £3 million for the same period last year. We also expect first half revenue to increase by 10%. All sales growth has been organic.

 

Whilst we have continued to win many new customers around the world for our medical device decontamination products, first quarter sales were lower than budgeted due to the deferral of patient procedures resulting from COVID-19 restrictions. However, from October to date we have experienced a substantial recovery in demand.  A contributory factor has been NHS purchasing in preparation for Brexit and we have seen continued significant growth in our newer markets of France, Belgium, Netherlands, Italy, and Malaysia. 

 

We anticipate that the strong long-term growth trend for our medical device decontamination products will re-establish itself during the second half as vaccination programmes and improved COVID-19 treatment outcomes gradually take effect around the world. We look forward to our business maintaining its robust growth profile in 2021 and beyond. 

 

Sales of our new Cache product range will be approximately double their level of the first half last year. With Cache, our goal is to become a global market leader in the segment of the hospital environmental hygiene market which we describe as sporicidal surface disinfection.

 

In North America very encouraging progress has been made in our FDA test programme for Duo for Ultrasound, and we have received positive feedback from the Canadian regulator on our Duo for Ophthalmology submission. In India we expect to conclude distribution arrangements for our entire Duo product range before Christmas. The Duo product range was approved by the Indian regulator in August this year.

 

And finally, Paul Barnes has been an Executive and Non-Executive director of the Company since before our IPO in 2005. He retires today. We thank him for the great contribution he has made over the years and wish him well. Our Board is examining how its expertise, experience and diversity can be developed further to equip itself for the exciting future we believe lies ahead."

 

At 10am, a short recording by Paul Swinney, CEO, will be made available at: www.tristelresults.com

 

Notice of Results

The Company's unaudited interim results will be announced on 22 February 2021.

 

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

 

 

 

 

For further information please contact:  

 

Tristel plc

Tel: 01638 721 500

Paul Swinney, Chief Executive Officer


Liz Dixon, Finance Director




Walbrook PR Ltd

Tel: 020 7933 8780 or [email protected]

Paul McManus

Mob: 07980 541 893

Lianne Cawthorne

Mob: 07584 391 303



finnCap

Tel: 020 7220 0500

Geoff Nash/ Giles Rolls (Corporate Finance)


Alice Lane (ECM)

 

 

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