The Tristel Group has continued to be cash generative and on 30 June 2020 the cash balance was £6.2m (2019: £4.2m). During the year, the Group spent £0.6m to acquire 80% of Tristel Italia Srl from its local management. In line with the Company's ordinary dividend policy, the Board is recommending that the final dividend is 3.84 pence (2019: 3.50 pence), an increase of 10%. Including the interim dividend of 2.34 pence (2019: 2.04 pence), and the proposed final dividend, the total dividend for the year will be 6.18 pence (2019: 5.54 pence), an increase of 12%.
Other financial highlights include:
• Turnover up 21% to £31.7m (2019: £26.2m)
• Overseas sales up 32% to £19m (2019: £14.4m), representing 60% of total sales (2019: 55%)
• Gross margin increased to 80% from 79% in 2019
• Pre-tax profit before share-based payments up 27% to £7.1m (2019: £5.6m). Unadjusted £6.6m (2019: £4.7m)
• Pre-tax margin before share-based payments increased to 22% (2019: 21%). Unadjusted 21% (2019: 18%)
• EPS before share-based payments up 11% to 12.35p (2019: 11.08p). Unadjusted up 25% to 11.38p (2019: 9.14p)
• Strong operating cashflow of £7m (2019: £5.5m)
• Net cash of £6.2m (2019: £4.2m)
