StockMarketWire.com - Tristel said, for the year to June 30, it will record turnover in excess of £17m, from £15.3m, and pretax profit (before share-based payments and unrealised currency gains) of at least £3.1m, from £2.6m.

Both turnover and pre-tax profit are ahead of market expectations, it said.

In the second half, revenue from overseas markets contributed 41% of the Group total compared to 36% in the first half, and for the full year overseas revenue represented 39% of Group revenue - a record level. Tristel has continued to generate significant levels of cash and at 30 June 2016 cash balances were £5.7 million compared to £4.0 million at 30 June 2015. The Company has no debt.

"Accordingly the Board has decided to return to shareholders the portion of this cash that it considers surplus to its investment and operational requirements and announces a special dividend of three pence per share payable on 5 August 2016 to shareholders on the register on 29 July 2016.

"After the payment of this special dividend and payment of the consideration associated with the acquisition referred to below, the Company's ongoing intention is to retain cash reserves in excess of £3.0 million. The Company last paid a special dividend of 3 pence per share in August 2015."

Tristel has acquired the assets and business of Ashmed Pty Ltd, Melbourne. Since 2011 Ashmed has acted as the Company's distributor in Australia for the Tristel Wipes System. The consideration is AU$1.35 million plus certain compensation payments for the re-purchase of inventory. The management team is staying with the business.



Story provided by StockMarketWire.com