News blog
Tristel
- BY: Andrew Hore |
- POSTED: 22/03/2009 |
Tristel continues to grow its consumable revenues but hardware sales have not built up as fast as hoped.
The infection and contamination control products supplier grew revenues by 13% to £3.15m in the six months to December 2008, while pre-tax profit increased from £426,000 to £469,000. The interim dividend was edged up from 0.385p to 0.405p a share.
Export sales increased by 28% and distributors have been appointed in Russia, Poland and Israel.
Tristel originally expected to sell 60 automated washers for endoscopes during this financial year. It now believes it will sell around 30 machines by June 2009. Longer-term, consumable sales per machine could be worth up to £5,000 a year.
Tristel has appointed Hertel as distributor of its products to the non-hospital sector in the UK. This enables Tristel to concentrate its sales force on the hospital market and the dental market now that new products have been launched.
St Helen’s Capital has shaved £400,000 off its revenue forecast to £7m for the year to June 2009. The profit forecast was cut from £1.6m to £1.4m.
Net debt is minimal at £90,000. Stocks of new machines increased working capital requirements.
At 39.5p a share, Tristel is valued at £10.6m. The shares are trading at less than 11 times forecast 2008-09 earnings.
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