Tristel PLC AGM Statement and notice of results (6230I)
December 15 2020 - 1:00AM
UK Regulatory
TIDMTSTL
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 GBP3.3
million compared to GBP3 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 tristel@walbrookpr.com
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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END
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