REG - Tristel PLC - Trading update and special dividend

TristelAnnouncement

18/07/2022 07:00

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RNS Number : 6994S  Tristel PLC  18 July 2022

Tristel plc

("Tristel", the "Company" or the "Group")

 

Trading update and special dividend

 

Tristel plc (AIM: TSTL), the manufacturer of infection prevention products,
provides a trading update for the year ended 30 June 2022 and declares a
special dividend.

 

Trading update

Across all our geographical markets, the number of patient procedures carried
out by hospitals picked up in the second half. This fed directly through to a
higher number of disinfection procedures and an upturn in our second half
revenue as expected. Sales of the Company's surface disinfectants also
increased in the second half as hospitals searched out the highest performing
disinfection products as a legacy of the pandemic.

 

All our activities in the second half were focussed on our proprietary
chlorine dioxide technology in the hospital market, having wound down our
non-core activities during the first half.

 

Revenue and adjusted profit before tax* for the year from the continuing
operations will be in line with consensus forecasts of £28.4m and £4.5m
respectively.

 

*adjusted for share-based payments

 

Special dividend

Tristel continues to be cash generative. Cash balances on 30 June 2022 were
£9m (30 June 2021: £8.1m). The Company has no debt.

 

The Board has decided to return to shareholders a portion of the cash that it
considers surplus to its investment and operational requirements and announces
a special dividend of three pence per share payable on 10 August 2022 to
shareholders on the register on 29 July 2022. The corresponding ex-dividend
date is 28 July 2022.

 

The Company will declare a final dividend for the year of 3.93 pence at the
time of its full year results in October which will be the same as the final
dividend for last financial year.

 

Paul Swinney, CEO of Tristel plc, comments: "Hospitals worldwide are gradually
returning to normal levels of service, which for Tristel means an increasing
number of diagnostic procedures, each requiring a disinfection event. During
the year 15.7 million disinfection events took place with a Tristel medical
device disinfectant, which is 31% higher than in the year ended 30 June 2019,
before the pandemic struck.

 

"Our Cache surface disinfectant products are continuing to gain market share
in the United Kingdom and adoption in the small number of overseas markets
where regulatory approvals are in place is increasing. A widespread regulatory
approvals programme is underway.

 

"The Company achieved a major milestone event at the end of June by making its
De Novo submission to the United States Food and Drug Administration for its
Duo ULT product. A decision from the agency is anticipated within the coming
year. Within the next five years we have high hopes that America will be a
significant revenue and profit contributor to the Group.

 

"We are emerging from the disruption caused by Brexit and the pandemic with a
highly focussed business, the prospect of entering the largest single
healthcare market in the world, with an exciting pipeline of new product
innovations, and a strong balance sheet. The outlook for Tristel is positive."

 

Shareholder Open Day

Tristel is holding an Open Day for shareholders, at 11am today, at the
Company's headquarters in Snailwell, Cambridgeshire. A presentation will be
made during the Open Day. No new material information will be disclosed during
the course of the day.

 

For those that are unable to make it in person, a live webcast will take
place. Please contact Walbrook PR via tristel@walbrookpr.com or call 020
7933 8780 to request a link. A recording of the presentation will be
available on the Company website after the event.

 

 For further information please contact:

 

 Tristel plc                            Tel: 01638 721 500
 Paul Swinney, Chief Executive Officer
 Liz Dixon, Chief Financial Officer

 Walbrook PR Ltd                        Tel: 020 7933 8780 or tristel@walbrookpr.com
 Paul McManus                           Mob: 07980 541 893
 Lianne Applegarth                      Mob: 07584 391 303

 finnCap                                Tel: 020 7220 0500
 Geoff Nash/ Charles Beeson (Corporate Finance)
 Alice Lane (ECM)

 

 

 

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