- Tristel announced both turnover and pre-tax profit are ahead of market expectations in the year to 30 June 2017.

Tristel will record turnover in excess of £20 million (2016: £17.1 million) and pre-tax profit (before share-based payments) of at least £4 million (2016: £3.3 million).

In the second half, revenue from overseas markets contributed 50% of the group total compared to 43% in the first half, and for the full year overseas revenue represented 47% of Group revenue - a record level.

Tristel continued to generate significant levels of cash and at 30 June 2017 cash balances were £5.1 million (30 June 2016: £5.7 million). The company has no debt.

During the year ended 30 June 2017, the company spent £0.95 million on the acquisition of its Australian distributor, distributed an aggregate £2.8 million in dividends including a special dividend announced in July last year, incurred costs of £0.5 million in association with its North American market entry - the fruits of which were announced earlier in the month with our first submission to the EPA.

The company also invested $0.75 million in Mobile ODT, a business combining smartphone technology with hand-held medical devices for point-of-care diagnostics.

The company will declare a final dividend for the year at the time of the preliminary results to be announced in October.

The Board is currently considering its dividend policy and the ongoing cash requirements of the business as it continues its global expansion.

Story provided by