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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Tristel Plc | LSE:TSTL | London | Ordinary Share | GB00B07RVT99 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -20.00 | -4.30% | 445.00 | 440.00 | 450.00 | 465.00 | 445.00 | 465.00 | 80,181 | 16:04:09 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Med, Dental, Hosp Eq-whsl | 36.01M | 4.46M | 0.0941 | 47.29 | 210.93M |
From Apr 2019 to Apr 2024
TIDMTSTL
RNS Number : 8018P
Tristel PLC
22 February 2021
TRISTEL plc
("Tristel", the "Company" or the "Group")
Half-year Report
Unaudited Interim Results for the six months ended 31 December 2020
Tristel plc (AIM: TSTL), the manufacturer of infection prevention and contamination control products utilising proprietary chlorine dioxide chemistry, announces its interim results for the six months ended 31 December 2020.
Financial highlights
-- Revenue up 15% to GBP16.8m (2019: GBP14.6m)
-- Overseas sales up 20% to GBP10m (2019: GBP8.3m), representing 60% of total sales (2019: 56%)
-- Gross margin increased to 80% from 79% in 2019
-- PBT before share-based payments up 13% to GBP3.4m (2019: GBP3.0m). Unadjusted PBT of GBP3.1m (GBP2.8m)
-- EPS before share-based payments up 5% to 6.18p (2019: 5.89p). Unadjusted EPS of 5.62p (2019: 5.37p)
-- EBITDA before share-based payments up 14% to GBP4.9m (2019: GBP4.3m) -- EBITDA margin before share-based payments of 29% (2019: 29%) -- Interim dividend of 2.62p per share (2019: 2.34p), up 12% -- Cash of GBP7.3m (2019: GBP4.2m)
Operational highlights
-- Approval received for Duo range of products in India. Appointed national distributor -- Successful start for new subsidiary in Malaysia with initial six-month sales of GBP0.24m -- Board changes: Caroline Stephens (ex-J&J) joined as INED -- Completed Usability and Human Factors Engineering Study for USA FDA De Novo submission
Commenting on current trading, Paul Swinney, Chief Executive of Tristel, said : "We are pleased with our progress in the first half. Sales growth has been at the top end of our target range of 10-15% and margins have continued to improve.
"We continue to make good progress in our USA regulatory project. We have recently completed the Usability and Human Factors Engineering study which represents an important milestone on our path towards completing our De Novo submission.
"The second half will be the third consecutive six-month period to be impacted by the pandemic. Unlike the previous two halves, we have started this one in lockdown in many of our key markets. Sales of our medical device disinfectants during the first seven weeks of 2021 are lower than budget due to the impact of COVID-19 on patient examinations. We are very confident that by the end of calendar 2021, the ENT, gynaecology, urology, cardiology, and ophthalmology departments where our products are used will have returned to pre-pandemic levels of activity. Whether this will happen in the UK and Europe before our June year-end is unclear at present.
"However, the growth prospects for the Group are as strong as ever and we look to the future with confidence."
At 8am today, Monday 22 February 2021, a video presentation recorded by Paul Swinney, CEO and Liz Dixon, FD, will be made available here: www.tristelresults.com
Tristel plc www.tristel.com Paul Swinney, Chief Executive Tel: 01638 721 500 Liz Dixon, Finance Director finnCap Geoff Nash/Giles Rolls, Corporate Tel: 020 7220 0500 Finance Alice Lane, Corporate Broking Walbrook PR Ltd Tel: 020 7933 8780 or tristel@walbrookpr.com Paul McManus Mob: 07980 541 893 Lianne Cawthorne Mob: 07584 391 303
Chairman's statement
Results
I am pleased to report that the Group had a good first half, growing sales by 15%. We increased the proportion of Group revenue generated in overseas markets to 60%. Geographical diversification is especially important for the Group during this pandemic which is affecting countries differently at any point in time.
During the half we entered the Malaysian hospital market via a newly established subsidiary. A distributor has represented us in the country for the past decade. Our operation got off to a good start, obtaining the re-issue of governmental licences for our products and generating GBP0.24m in sales. On 23 December, our Indian subsidiary entered into a distribution agreement with GenWorksHealth, based in Bangalore. This gives us distribution throughout India for our Duo high-level disinfectants which are used on a wide range of medical devices used in ultrasound, ophthalmology, and ear nose and throat clinics.
Of equal strategic importance is the diversification of our product portfolios. The most important product range in terms of sales is Tristel. This is our longest established and best recognised brand. Tristel products are medical device disinfectants and worldwide they accounted for GBP13.1m of sales in the half. The Cache product range is younger and only actively marketed at present in the UK, Benelux, France, and Hong Kong. The Cache products are disinfectants for hospital surfaces and worldwide accounted for GBP2m of sales in the period.
The two portfolios have been differently impacted by the pandemic: Tristel product sales in all countries have been adversely affected as patient examinations have been deferred. Cache product sales have been positively impacted because hospitals rushed to purchase any type of disinfectant. During the second half of 2020 this phenomenon came to an end and now we are observing a more considered approach to the selection of surface disinfectants. This augurs well for the long-term success of Cache as our chlorine dioxide chemistry is the safest and most effective choice available. Worldwide, Tristel sales in the first half increased by 12% on the comparable period, whilst Cache sales increased by 82%. The table below explains the geographical and portfolio breakdown of Group first half revenue.
Hot Features
Premium
Revenue First half 2020-21 First half Period-on-period
2019-20 growth
GBPm GBPm %
------------------- ----------- -----------------
UK Revenue
------------------- ----------- -----------------
UK portfolio breakdown:
------------------- ----------- -----------------
Tristel medical device decontamination 4.4 4.4 -
------------------- ----------- -----------------
Cache surface disinfection 1.5 0.8 88%
------------------- ----------- -----------------
Other 0.9 1.1 (18%)
------------------- ----------- -----------------
UK Revenue 6.8 6.3 8%
------------------- ----------- -----------------
Overseas Revenue 10 8.3 20%
------------------- ----------- -----------------
Geographical breakdown:
------------------- ----------- -----------------
Australasia 1.9 1.7 12%
------------------- ----------- -----------------
China, Hong Kong & Taiwan 0.8 0.6 33%
------------------- ----------- -----------------
Malaysia 0.2 - -
------------------- ----------- -----------------
Benelux & France 2.4 1.8 33%
------------------- ----------- -----------------
Germany & Central Europe 2.8 2.5 12%
------------------- ----------- -----------------
Italy 0.4 0.3 33%
------------------- ----------- -----------------
International distributors 1.5 1.4 7%
------------------- ----------- -----------------
Overseas Revenue 10 8.3 20%
------------------- ----------- -----------------
Portfolio breakdown:
------------------- ----------- -----------------
Tristel medical device decontamination 8.7 7.3 19%
------------------- ----------- -----------------
Cache surface disinfection 0.5 0.3 67%
------------------- ----------- -----------------
Other 0.8 0.7 14%
------------------- ----------- -----------------
10 8.3 20%
------------------- ----------- -----------------
Global Revenue 16.8 14.6 15%
------------------- ----------- -----------------
The UK's departure from the European Union has taken place without disruption to our trade with the Continent. In preparation for this transition, last September the NHS purchased approximately GBP0.9m of Tristel medical device disinfectant products and has held them in a dedicated storage facility. We anticipate that this stock will be fed back into the NHS Supply Chain network from May 2021 but have no visibility on the time this might take. The release of this inventory will have some negative impact on second half sales of medical device disinfectant products in the UK.
The release of this stock and the uncertain timing regarding recovery of patient examinations to pre-pandemic levels around the world, makes it difficult to forecast sales for the second half of the year.
We achieved a one percentage point increase in gross margin due to product sales mix in the period. Overheads excluding share-based payments, depreciation and amortisation increased by GBP1.2m, or 16%. Included in the increase is a one-off payroll-related cost associated with share option exercises, and the first contribution of costs from Malaysia. Excluding both these costs, underlying overhead expenses increased by only 3% in the half compared with last year.
During the period we increased global headcount by 31, from 164 at 30 June, to 195 at 31 December. We have bolstered our marketing, product management, product development, quality management and regulatory teams to prepare for the growth that we anticipate once hospital patient examinations return to their pre-pandemic levels in all countries, and the Cache product range is marketed globally. Included in the headcount increase are five employees in our newly operational Malaysian subsidiary.
Pre-tax profit increased from GBP2.8m to GBP3.1m, a 11% increase.
The Group has continued to be highly cash generative and on 31 December 2020 the cash balance was GBP7.3m (2019: GBP4.2m).
Earnings and Dividends
Adjusted earnings per share (EPS), before share-based payments, were 6.18 pence, up 5% from 5.89 pence last year. Basic EPS was 5.62 pence, a 5% increase from last year. EPS growth was held back by a higher effective tax rate in the half of 16% (2019: 13%).
The Board is recommending an interim dividend of 2.62 pence (2019: 2.34 pence), an increase of 12%. The interim dividend will be paid on 30 April 2021 to shareholders on the register on 9 April 2021, with an ex-dividend date of 8 April 2021.
Board of Directors
We welcome Caroline Stephens to our Board as an Independent Non-Executive Director. Caroline has enjoyed a 26-year career with Johnson & Johnson in multiple leadership roles. In addition to bringing her experience and expertise in healthcare to our organisation, her appointment takes us further towards our goal of equal gender balance within the Board.
Outlook
Whilst the near-term outlook for the Company will be heavily influenced by the course of the pandemic and its impact on hospital services, the long-term prospects remain very encouraging.
Bruno Holthof
Chairman
22 February 2021
Condensed Consolidated Income Statement for the six months ended 31 December 2020
6 months ended 6 months ended Year ended
31-Dec-20 31-Dec-19 30-Jun-20
(unaudited) (unaudited) (audited)
Note GBP'000 GBP'000 GBP'000
Revenue 2 16,751 14,634 31,678
Cost of sales (3,421) (3,030) (6,431)
-------------- -------------- ----------
Gross profit 13,330 11,604 25,247
Admin expenses - share based payments (260) (234) (435)
Admin expenses - depreciation and
amortisation (1,402) (1,239) (2,558)
Admin expenses - other (8,472) (7,298) (15,449)
-------------- -------------- ----------
Total administrative expenses (10,134) (8,771) (18,442)
Operating profit 3,196 2,833 6,805
Finance income - - 1
Finance costs (100) (72) (167)
-------------- -------------- ----------
Profit before taxation 3,096 2,761 6,639
Taxation (501) (366) (1,539)
Profit for the period 2,595 2,395 5,100
============== ============== ==========
Attributable to:
Equity holders of the parent 2,595 2,395 5,100
-------------- -------------- ----------
2,595 2,395 5,100
============== ============== ==========
Earnings per share from continuing
operations
attributable to equity holders of
the parent
Basic (pence) 4 5.62 5.37 11.38
============== ============== ==========
Diluted (pence) 5.47 5.17 10.88
============== ============== ==========
The above results were derived from continuing operations.
Earnings before interest, tax depreciation and amortisation for the period ended 31 December 2020 were GBP4,858,000. (Period ended 31 December 2019 GBP4,306,000. Year ended 30 June 20 GBP9,964,000).
Condensed Consolidated Statement of Comprehensive Income for the six months ended 31 December 2020
6 months ended 6 months ended Year ended
31-Dec-20 31-Dec-19 30-Jun-20
(unaudited) (unaudited) (audited)
GBP'000 GBP'000 GBP'000
Profit for the period 2,595 2,395 5,100
Items that will be reclassified
subsequently to Profit and loss
Exchange differences on translation
of foreign operations (30) (304) 314
-------------- -------------- ----------
Other comprehensive income for the
period (30) (304) 314
Total comprehensive income for the
period 2,565 2,091 5,414
============== ============== ==========
Attributable to:
Equity holders of the parent 2,565 2,091 5,414
-------------- -------------- ----------
2,565 2,091 5,414
============== ============== ==========
Condensed Consolidated Statement of Financial Position as at 31 December 2020
6 months ended 6 months ended Year ended
31-Dec-20 31-Dec-19 30-Jun-20
(unaudited) (unaudited) (audited)
GBP'000 GBP'000 GBP'000
Non-current assets
Investment 807 807 807
Goodwill and other Intangible assets 12,770 13,190 13,250
Property, plant and equipment 8,603 5,934 8,080
Deferred tax asset 852 997 1,544
-------------- -------------- ----------
23,032 20,928 23,681
-------------- -------------- ----------
Current assets
Inventories 3,993 2,664 4,619
Trade and other receivables 5,888 4,819 6,422
Cash and cash equivalents 7,307 4,169 6,212
-------------- -------------- ----------
17,188 11,652 17,253
-------------- -------------- ----------
Total assets 40,220 32,580 40,934
============== ============== ==========
Capital and reserves
Called up share capital 465 447 453
Share premium account 12,891 11,735 12,634
Merger reserve 2,205 2,205 2,205
Foreign exchange reserves 367 (221) 397
Retained earnings 13,150 10,066 12,767
-------------- -------------- ----------
Equity attributable to equity holders
of parent 29,078 24,232 28,456
Minority interest 7 7 7
Total equity 29,085 24,239 28,463
============== ============== ==========
Current liabilities
Trade and other liabilities 3,688 2,614 4,560
Contingent liability 76 112 112
Current tax liabilities 688 968 1,182
Current leased asset liabilities 870 - 817
-------------- -------------- ----------
Total current liabilities 5,322 3,694 6,671
============== ============== ==========
Non-current liabilities
Deferred tax 612 747 615
Non-current leased asset liabilities 5,201 3,900 5,185
-------------- -------------- ----------
Total liabilities 11,135 8,341 12,471
-------------- -------------- ----------
Total equity and liabilities 40,220 32,580 40,934
============== ============== ==========
Condensed Consolidated Statement of Changes in Equity for the six months ended 31 December 2020
Share Share Merger Foreign Retained Total Non-controlling Total
Capital Premium reserve exchange earnings attributable interests Equity
reserve to owners
of the
parent
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
30 June 2019 446 11,427 2,205 83 9,191 23,352 7 23,359
Transactions
with owners
Dividends paid (1,562) (1,562) (1,562)
Shares issued 1 308 309 309
Share-based
payments 234 234 234
Adoption of
IFRS 16 (192) (192) (192)
----------- ----------- ---------- --------- --------- ------------ --------------- -----------
Total
transactions
with owners 1 308 (1,520) (1,211) (1,211)
----------- ----------- ---------- --------- --------- ------------ --------------- -----------
Profit for the
period ended
31
December 2019 2,395 2,395 2,395
Other
comprehensive
income :-
Exchange
differences
on
translation
of foreign
operations (304) (304) (304)
Total
comprehensive
income (304) 2,395 2,091 2,091
----------- ----------- ---------- --------- --------- ------------ --------------- -----------
31 December
2019 447 11,735 2,205 (221) 10,066 24,232 7 24,239
=========== =========== ========== ========= ========= ============ =============== ===========
Transactions
with owners
Dividends paid (1,059) (1,059) (1,059)
Shares issued 6 899 905 905
Share-based
payments 201 201 201
Adoption of
IFRS 16 (50) (50) (50)
Deferred tax
through
equity 904 904 904
----------- ----------- ---------- --------- --------- ------------ --------------- -----------
Total
transactions
with owners 6 899 (4) 901 901
----------- ----------- ---------- --------- --------- ------------ --------------- -----------
Profit for the
period ended
30
June 2020 2,705 2,705 2,705
Other
comprehensive
income :-
Exchange
differences
on
translation
of foreign
operations 618 618 618
Total
comprehensive
income 618 2,705 3,323 3,323
----------- ----------- ---------- --------- --------- ------------ --------------- -----------
30 June 2020 453 12,634 2,205 397 12,767 28,456 7 28,463
=========== =========== ========== ========= ========= ============ =============== ===========
Transactions
with owners
Dividends paid (1,785) (1,785) (1,785)
Shares issued 12 257 269 269
Share-based
payments 260 260 260
Deferred tax
through
equity (686) (686) (686)
----------- ----------- ---------- --------- --------- ------------ --------------- -----------
Total
transactions
with owners 12 257 (2,211) (1,942) (1,942)
----------- ----------- ---------- --------- --------- ------------ --------------- -----------
Condensed Consolidated Statement of Changes in Equity for the
six
months ended 31 December 2020 (continued)
Share Share Merger Foreign Retained Total Non-controlling Total
Capital Premium reserve exchange earnings attributable interests Equity
reserve to owners
of the
parent
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
----------- ----------- ---------- --------- --------- ------------ --------------- -----------
Total
transactions
with owners
brought
forward 12 257 (2,211) (1,942) (1,942)
----------- ----------- ---------- --------- --------- ------------ --------------- -----------
Profit for the
period ended
31
December 2020 2,594 2,594 2,594
Other
comprehensive
income :-
Exchange
differences
on
translation
of foreign
operations (30) (30) (30)
Total
comprehensive
income (30) 2,594 2,564 2,564
----------- ----------- ---------- --------- --------- ------------ --------------- -----------
31 December
2020 465 12,891 2,205 367 13,150 29,078 7 29,085
=========== =========== ========== ========= ========= ============ =============== ===========
Condensed Consolidated Statement of Cash Flows for the six months ended 31 December 2020
6 months ended 6 months ended Year ended
31-Dec-2020 31-Dec-2019 30-Jun-2020
(unaudited) (unaudited) (audited)
Note GBP'000 GBP'000 GBP'000
Cash flows from operating activities
Profit before tax 3,096 2,761 6,639
Adjustments to cash flows from non-cash
items
Depreciation of leased assets 346 326 692
Depreciation of plant, property &
equipment 309 348 598
Amortisation of intangible asset 714 858 1,201
Impairment of intangible asset 33 33 67
Gain on fair value of investment - (111) (111)
Share based payments - IFRS 2 260 234 435
(Profit)/loss on disposal of property,
plant and equipment (3) - 54
Lease interest 99 66 165
Unrealised loss in foreign exchange 55 (140) (157)
Finance income - - (1)
-------------- -------------- -----------
4,909 4,375 9,582
Working capital adjustments
Decrease/(increase) in inventories 626 288 (1,655)
Decrease/(increase) in trade and other
receivables 534 330 (805)
(Decrease)/increase in trade and other
payables (872) (693) 1,007
Corporation tax paid (989) (477) (1,140)
-------------- -------------- -----------
Net cash flow from operating activities 4,208 3,823 6,989
-------------- -------------- -----------
Cash flows from investing activities
Interest received - - 1
Purchase of intangible assets (341) (325) (610)
Purchase of subsidiary undertakings
& deferred consideration (36) (594) (595)
Purchase of property plant and equipment (730) (1,111) (1,770)
-------------- -------------- -----------
Net cash used in investing activities (1,107) (2,030) (2,974)
-------------- -------------- -----------
Cash flows from financing activities
Payment of lease liabilities (435) (397) (614)
Share issues 269 309 1,214
Dividends paid (1,785) (1,562) (2,621)
-------------- -------------- -----------
Net cash used in financing activities (1,951) (1,650) (2,021)
-------------- -------------- -----------
Net increase/(decrease) in cash and
cash equivalents 1,150 143 1,994
Cash and cash equivalents at the beginning
of the period 6,212 4,170 4,170
Exchange differences on cash and cash
equivalents (55) (144) 48
-------------- -------------- -----------
Cash and cash equivalents at the end
of the period 7,307 4,169 6,212
============== ============== ===========
Notes to the Financial Statements for the six months ended 31 December 2020
1 Accounting policies
Basis of Preparation
For the year ended 30 June 2020, the Group prepared consolidated financial statements under International Financial Reporting Standards ('IFRS') as adopted by the European Union (EU). These condensed consolidated interim financial statements (the interim financial statements) have been prepared under the historical cost convention. They are based on the recognition and measurement principles of IFRS in issue as adopted by the European Union (EU) which are effective from 1 July 2020.
Standards effective from 1 January 2020
The following standards and interpretations apply for the first time to financial reporting periods commencing on or after 1 January 2020:
-- IFRS 3 - Definition of a Business (effective 1 January 2020) -- IAS 1 and 8 - Definition of Material (effective 1 January 2020) -- IFRS 9, IAS 39 and IFRS 7 - Interest rate benchmark reform (effective 1 January 2020) -- IFRS 17 Insurance contracts (effective 1 January 2021) -- IAS 1 - Classification of liabilities as current or non-current (effective 1 January 2022)
The Directors anticipate that the adoption of IFRS 17 in future periods will have no material effect on the financial statements of the Group.
There are no other standards that are not yet effective and that would be expected to have a material impact on the Group in the current or future reporting periods and on foreseeable future transactions.
None of the standards, interpretations and amendments effective for the first time from 1 July 2020 have had a material effect on the financial statements.
Accounting Policies
The interim report is unaudited and has been prepared on the basis of IFRS accounting policies.
The accounting policies adopted in the preparation of this unaudited interim financial report are consistent with the most recent annual financial statements being those for the year ended 30 June 2020.
The financial information for the six months ended 31 December 2020 and 31 December 2019 has not been audited and does not constitute full financial statements within the meaning of Section 434 of the Companies Act 2006.
The financial information relating to the year ended 30 June 2020 does not constitute full financial statements within the meaning of Section 434 of the Companies Act 2006. This information is based on the Group's statutory accounts for that period. The statutory accounts were prepared in accordance with International Financial Reporting Standards ("IFRS") and received an unqualified audit report and did not contain statements under Section 498(2) or (3) of the Companies Act 2006. These financial statements have been filed with the Registrar of Companies.
2 Segmental Analysis
Management considers the Company's revenue lines to be split into three operating segments, which span the different Group entities. The operating segments consider the nature of the product sold, the nature of production, the class of customer and the method of distribution. The Company's operating segments are identified initially from the information which is reported to the chief operating decision maker.
The first segment concerns the manufacture and sale of medical device decontamination products which are used primarily for infection control in hospitals. This segment generates approximately 78% of Company revenues (2019: 80%).
The second segment which constitutes 12% (2019: 8%) of the business activity, relates to the manufacture and sale of hospital environmental surface disinfection products.
The third segment addresses the pharmaceutical and personal care product manufacturing industries, veterinary and animal welfare sectors and has generated 10% (2019: 12%) of the Company's revenues this year.
The operation is monitored and measured on the basis of the key performance indicators of each segment, these being revenue and gross profit, and strategic decisions are made on the basis of revenue and gross profit generating from each segment.
The Company's centrally incurred administrative expenses and operating income, and assets and liabilities, cannot be allocated to individual segments.
6 Months ended 6 Months ended Year ended
31 December 2020 31 December 2019 30 June 2020
(unaudited) (unaudited) (audited)
Hospital Hospital Hospital Hospital Hospital
medical environmental Hospital environmental medical environmental
device surface Other medical device surface Other device surface Other
decontamination disinfection revenue Total decontamination disinfection revenue Total decontamination disinfection revenue Total
GBP000 GBP000 GBP000 GBP000 GBP000 GBP000 GBP000 GBP000 GBP000 GBP000 GBP000 GBP000
Revenue 13,107 2,036 1,608 16,751 11,700 1,100 1,834 14,634 23,497 4,882 3,299 31,678
Cost of
material (2,035) (754) (633) (3,421) (1,909) (406) (715) (3,030) (4,499) (1,132) (800) (6,431)
Gross
profit 11,072 1,282 975 13,330 9,791 694 1,119 11,604 18,998 3,750 2,499 25,247
Centrally incurred income and expenses
not attributable to individual segments:
Depreciation and amortisation of
non-financial
assets (1,402) (1,239) (2,558)
Other administrative expenses (8,472) (7,298) (15,449)
Share-based payments (260) (234) (435)
---------------- ------- ----------------
Segment operating profit 3,196 2,833 6,805
Segment operating profit can be reconciled
to Group profit before tax as follows:
Segment operating profit 3,196 2,833 6,805
Finance income - - 1
Finance costs (100) (72) (167)
---------------- ------- ----------------
Group profit 3,096 2,761 6,639
================ ======= ================
6 Months ended 6 Months ended Year ended
31 December 2020 31 December 2019 30 June 2020
(unaudited) (unaudited) (audited)
Hospital Hospital Hospital Hospital Hospital
medical environmental Hospital environmental medical environmental
device surface Other medical device surface Other device surface Other
decontamination disinfection revenues Total decontamination disinfection revenues Total decontamination disinfection revenues Total
GBP000 GBP000 GBP000 GBP000 GBP000 GBP000 GBP000 GBP000 GBP000 GBP000 GBP000 GBP000
UK & Europe
direct 9,395 1,830 1,194 12,419 8,530 953 1,416 10,899 16,768 3,891 2,528 23,187
APAC region
direct 2,527 131 215 2,873 2,116 67 188 2,371 4,613 231 374 5,218
Worldwide
distributors 1,185 75 199 1,459 1,054 80 230 1,364 2,116 760 397 3,273
--------------- ------------- -------- ------ --------------- ------------- -------- ------ --------------- ------------- -------- ------
13,107 2,036 1,608 16,751 11,700 1,100 1,834 14,634 23,497 4,882 3,299 31,678
=============== ============= ======== ====== =============== ============= ======== ====== =============== ============= ======== ======
3 Dividends
Amounts recognised as distributions to equity holders in the year:
6 months ended 6 months ended Year ended
31 December 31 December 30 June 2020
2020 2019
(unaudited) (unaudited) (audited)
GBP000 GBP000 GBP000
Ordinary shares of 1p each
Final dividend for the year ended 30
June 2020 of 3.84p (2019:3.50p) per share
** 1,785 1,562 1,562
Interim dividend for the year ended 30
June 2020 of 2.34p (2019: 2.04p) per
share - - 1,059
-------------- -------------- ------------
1,785 1,562 2,621
============== ============== ============
Proposed interim dividend for the year
ended 30 June 2021 of 2.62p (2020: 2.34p)
per share 1,211 1,046 -
============== ============== ============
** Based on shares in issue at 14 December 2020 of 46,493,808 (14 December 2019 of 44,635,823).
The proposed interim dividend has not been included as a liability in the financial statements.
4 Earnings per share
The calculations of earnings per share are based on the following profits and number of shares:
6 months ended 6 months ended Year ended
31 December 31 December 30 June 2020
2020 2019
(unaudited) (unaudited) (audited)
GBP000 GBP000 GBP000
Retained profit for the financial year
attributable to equity holders of the
parent 2,595 2,395 5,100
-------------- -------------- ------------
Shares Shares Shares
'000 '000 '000
Number Number Number
Weighted average number of ordinary shares
for the purpose of basic earnings per
share 46,203 44,604 44,831
Share options 1,246 1,762 2,033
-------------- -------------- ------------
47,449 46,366 46,864
-------------- -------------- ------------
Earnings per ordinary share
Basic (pence) 5.62p 5.37p 11.38p
Diluted (pence) 5.47p 5.17p 10.88p
GBP'000 GBP'000 GBP'000
Retained profit for the financial year
attributable to equity holders of the
parent 2,595 2,395 5,100
-------------- -------------- ------------
Adjustments:
Share based payments 260 234 435
-------------- -------------- ------------
Net adjustments 260 234 435
Adjusted earnings 2,855 2,629 5,535
-------------- -------------- ------------
Adjusted basic earnings per ordinary
share (pence) 6.18p 5.89p 12.35p
-------------- -------------- ------------
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END
IR FZGMZNLGGMZM
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February 22, 2021 02:00 ET (07:00 GMT)
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