Tristel expecting full-year profit growth as chairman departs

The AIM-traded firm said at its annual general meeting that the expected pre-tax profit figure took account of the transaction costs arising from the acquisition of the Ecomed companies, which it concluded last month, but it would include only one full month's revenue and profit contribution from them.

“Our integration of these new French and Benelux businesses is progressing well,” said chief executive officer Paul Swinney.

“The company is performing in line with management's expectations and our United States regulatory approvals project is progressing as planned.”

Paul Barnes, interim non-executive chairman, stepped into the role at the AGM as well, as founder and chairman Francisco Soler retired from the role after 25 years.

“I step into the role of non-executive Chairman for one year to oversee the board's transition at this exciting time in the company's development, and will pass the reins over to a new chair at next year's AGM,” Barnes said.

“We are making good progress in our search for new additions to our board of directors.”

Tristel said it would announce its unaudited interim results on 25 February.