REG - Tristel PLC - Final Results <Origin Href="QuoteRef">TSTL.L</Origin> - Part 2

TristelAnnouncement

17/10/2016 07:06

- Part 2: For the preceding part double click  ID:nRSQ6337Ma 

                             (1,071)                                                                   (844)              
 Other administrative expenses                                                                                         (8,242)                                                                   (7,241)                
 Share based payments                                                                                                  (674)                                                                     (35)                   
 Operating profit                                                                                   2,568                                                                     2,541              
                                                                                                                                                                                                                                    
 Operating profit can be reconciled to Group profit before tax as follows:        
                                                                                                                                                                                                                                    
 Operating profit                                                                                   2,568                                                                     2,541              
 Finance income                                                                                                        12                                                                        12                     
 Results from equity accounted associate                                          13                                                                        8                 
 Finance costs                                                                                                         -                                                                         (9)                    
                                                                                                                                                                                                                                    
 Group profit before tax                                                                            2,593                                                                     2,552              
                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                      
 
 
The Group's revenues from external customers are divided into the following
geographical areas: - 
 
                    Human Healthcare  Animal Healthcare  Contamination Control  Group 2016    Human Healthcare  Animal healthcare  Contamination Control  Group 2015  
                    £'000             £'000              £'000                  £'000         £'000             £'000              £'000                  £'000       
                                                                                                                                                                      
 United Kingdom     8,547             679                1,140                  10,366        8,232             614                987                    9,833       
 Germany            1,778             -                  -                      1,778         1,390             -                  -                      1,390       
 Rest of the World  4,274             336                350                    4,960         3,467             257                387                    4,111       
 Group revenues     14,599            1,015              1,490                  17,104        13,089            871                1,374                  15,334      
 
 
4. TAXATION 
 
The taxation charge represents: 
 
                                                      2016     2015   
                                                      £'000    £'000  
 Current taxation-                                                    
 Corporation tax                                      444      363    
 Adjustment in respect of earlier years               10       (10)   
 Double taxation relief                               -        (113)  
 Foreign taxation                                     -        119    
 Total current tax                                    454      359    
 Deferred tax-                                                        
 Origination and reversal of temporary differences    14       (22)   
 Over/(under) provided in respect of prior periods    23       -      
 Total deferred tax                                   37       (22)   
 Total tax charge in Income Statement                 491      337    
 
 
Factors affecting the tax charge: 
 
The tax assessed for the year differs from the standard rate of corporation
tax in the UK. The difference is explained below: 
 
                                                                  2016     2015   
                                                                  £'000    £'000  
                                                                                  
 Profit on ordinary activities before tax                         2,593    2,552  
                                                                                  
 Profit on ordinary activities                                                    
 multiplied by the standard rate of corporation tax                               
 in the UK of 20% (2015: 20.75%)                                  519      530    
                                                                                  
 Effects of:                                                                      
 Expenses not deductible for tax purposes                         31       52     
 Tax rate differences                                             (11)     11     
 Enhanced relief on qualifying scientific research expenditure    (136)    (82)   
 Foreign tax credits                                              -        6      
 Adjustment in respect of prior years                             33       -      
 Tax losses not utilised and other temporary differences          55       (180)  
 Total tax charge for year                                        491      337    
 
 
5.  DIVIDENDS 
 
                                                                                            2016     2015   
 Amounts recognised as distributions to equity holders in the year:                         £'000    £'000  
 Ordinary shares of 1p each                                                                                 
 Final dividend for the year ended 30 June 2015 of 2.14p                                                    
 (2014:  1.26p) per share                                                                   899      513    
 Interim dividend for the year ended 30 June 2016 of 1.14p                                                  
 (2015:  0.585p) per share                                                                  480      239    
 Special dividend of 3p per share paid on the 8 August 2015                                 1,242    -      
                                                                                                            
                                                                                            2,621    752    
                                                                                                            
 Special dividend of 3p per share paid on the 8 August 2016 (2015: 3 August 2015)           1,265    1,242  
 Proposed final dividend for the year ended 30 June 2016of 2.19p (2015: 2.14p) per share    923      899    
 
 
The proposed final dividend is subject to approval by shareholders at the
forthcoming Annual General Meeting and has not been included as a liability in
the financial statements. 
 
6. EARNINGS PER SHARE 
 
The calculations of earnings per share are based on the following profits and
numbers of shares: 
 
                                                                                           2016                 2015               
                                                                                           £'000                £'000              
 Retained profit for the financial year attributable to equity holders of the parent       2,102                2,215              
                                                                                                                                   
                                                                                           Shares '000Number    Shares '000Number  
 Weighted average number of ordinary shares for the purpose of basic earnings per share    41,945               40,705             
 Share options                                                                             1,747                1,614              
                                                                                           43,692               42,319             
 Earnings per ordinary share                                                                                                       
 Basic                                                                                     5.01p                5.44p              
 Diluted                                                                                   4.81p                5.23p              
 
 
A total of 70,000 options of ordinary shares were anti-dilutive at 30 June
2016. All remaining share options are dilutive at 30 June 2016 and were
dilutive at 30 June 2015. 
 
7. CALLED UP SHARE CAPITAL 
 
 Allotted, issued and fully paid ordinary shares of 1 pence each  Number:         £'000  
 30 June 2015                                                     41,392,201      414    
 Issued during the year                                           773,000         7      
 30 June 2016                                                     42,165,201      421    
 
 
8.  ANNUAL REPORT 
 
The annual report and financial statements will be available on the company's
website www.tristel.com from 17 October 2016.  Printed copies will be posted
to shareholders prior to the Company's Annual General Meeting taking place on
13 December 2016 in Snailwell, Newmarket. 
 
9.  POST BALANCE SHEET EVENT 
 
On 15 August 2016 the Group acquired from the Australian company Ashmed PTY
Ltd, its customer base, stock, fixed assets and staff, for a total
consideration of £1.1m in cash. The customer base and staff were purchased for
a consideration of £959k, the amount will be recognised within intangible
assets. Stock was acquired for £119k, to be shown within inventory.
Transaction costs have been incurred, including an amount of £50k recognised
in these financial statements within administration expenses. An estimate of
the financial effect of the transaction can be found within the Chief
Executive's report, on page 5 of these financial statements. 
 
This information is provided by RNS
The company news service from the London Stock Exchange