The Tristel Board is recommending that the final dividend is 3.93 pence (2020: 3.84 pence), an increase of 2%, reducing the dividend cover to 1.25 times from the standard 2 times. This final dividend will be paid to shareholders on the register on 19 November and the associated ex-dividend date is 18 November 2021.
Other financial highlights include:
Turnover down 2% to £31.0m (2020: £31.7m)
Overseas sales up 3% to £19.6m (2020: £19m), representing 63% of total sales (2020: 60%)
Gross margin remained steady at 80% (2020: 80%)
Pre-tax profit before share-based payments and adjustment in fair value of investment in Israeli medtech company (£0.8m), down 24% to £5.4m (2020: £7.1m)
Pre-tax margin before share-based payments and fair value adjustment decreased to 17% (2020: 22%)
Unadjusted pre-tax profit £3.8m (2020: £6.6m)
Unadjusted pre-tax margin 12% (2020: 21%)
EPS before share-based payments down 34% to 8.16p (2020: 12.35p). Unadjusted down 44% to 6.39p (2020: 11.38p)
Strong operating cashflow of £6.5m (2020: £7m)
Net cash of £8.1m (2020: 6.2m)
