StockMarketWire.com - Infection control product group Tristel downgraded its annual profit guidance, blaming lower-than-expected sales and a rise in its cost base.

Pre-tax profit for the year through June was expected to be 'no less than £5 million', the company said in a trading update.

Tristel said its sale were likely to exceed £31m, which was 'comparable' with last year.

The company was experiencing a fall in demand for patient examinations caused by Covid-19, partly offset by surface disinfectant product sales.

'Looking out to next financial year, we expect demand conditions in the UK to improve significantly,' Tristel said.

'However, in these uncertain times we believe that we must take a cautious approach.'

'Whilst our global revenues continue to diversify away from the UK, our home market remains our largest exposure to one healthcare system.'

On the bright said, Tristel said its cash position of £8 million gave it security and stability.

It said it expected to declare a final dividend is 3.93p, giving a total of 6.55p for the year.

'The board commits to make a final dividend payment at this level irrespective of the level of year-end profit,' the company added.

'We remain very confident that sales and profits growth will resume next year and the investments that we have made in people, systems and new market registrations will lay the foundation stones for strong growth in the years ahead.'




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