Contamination control products supplier Tristel’s core hospital business grew by 17% in the first half.
Overall turnover rose by 8% to £2.78m in the six months to December 2007 but that was after the loss of £137,000 of revenues from a food customer. Profits rose 5% to £426,000.
The second half is expected to be even stronger. Sales of the company’s burstable sachet product for hospital cleaning are rising. There are 18 acute hospitals that use the sachets - around 5% of acute hospitals - and others are trialling them. Management believes that the pace of revenue growth will increase once more than 10% of acute hospitals start to use the sachets.
Shine, an endoscope washer, and Stella, a tray system, are being launched in the second half. This equipment is being sold to customers who will then need to buy consumables.
House broker Daniel Stewart forecasts an increase in profits from £1.17m to £1.35m in the year to June 2008. It then expects a further increase to £1.77m the following year.
The shares fell 2p to 43.5p. That puts the shares on 11 times forecast earnings for this year, falling to less than nine for next year.
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