News blog
Tristel
- BY: Andrew Hore |
- POSTED: 09/11/2009 |
Tristel is raising £2m from a placing at 56p a share to help finance overseas expansion.
The discount to Friday’s closing price was less than 3%. The infection and contamination control products supplier is keen to expand in China, which is the third largest medical device market in the world. Tristel has set up an 85%-owned subsidiary in China and is gaining regulatory approval for its disinfectant products. The Stella Endoscope Decontamination System is about to be launched in the Chinese market.
Net debt was £392,000 at the end of June 2009. The total dividend was increased from 1.55p to 1.7p a share - including a final dividend of 1.295p a share.
House broker Daniel Stewart forecasts a rise in underlying profits from £1.5m to £1.8m in the year to June 2010. At 58p a share, up 0.5p on the day, Tristel is valued at £17m. The shares are trading on just under 15 times prospective 2009-10 earnings.
Astaire is more optimistic predicting 2009-10 profits of £2m.
© 2026 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|