Tristel PLC on Monday reported that it swung to an interim profit in the six months to December 31, as its disinfectant foam De Novo could be approved by the US Food & Drug Administration.
Tristel is a Cambridgeshire-based maker of infection prevention, contamination control and hygiene products.
The company said it swung to a half-year profit of £2.4 million, compared to a loss of £1.2 million a year prior. Revenue grew 15% to £17.5 million from £15.1 million, outpacing cost of sales, which widened 11% to £3.4 million from £3.0 million. Total administrative expenses narrowed 13% to £11.6 million from £13.3 million.
Tristel said basic earnings per share were 3.19 pence, swung from a loss of 2.08p per share.
The company declared an interim dividend of 2.62p per share, unchanged from a year ago.
Looking ahead, Tristel is optimistic, adding that if the US Food & Drug Administration approves De Novo, it will add a new dimension to its ambitions. De Novo is a disinfectant foam that can be used on ultrasound probes used for intra-cavitary and skin surface diagnostic procedures.
The company said it will deliver data regarding De Novo to the FDA by the March 2023 deadline.
Tristel shares were 7.9% higher at 340.00 pence each in London on Monday morning.
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