US surge sends Tristel soaring to unprecedented heights
Tristel reports the strongest outlook in its 30-year history – driven by key North American regulatory approvals for its infection control products for hospitals.
The stock was 20p – more than five per cent – ahead to 415p a share soon after the UK market opened to read Tristel’s audited preliminary results for the year to June 30.
Turnover was up 16 per cent to £36 million; overseas sales continued to grow – up 17 per cent to £23.5m and represented 65 per cent of total sales. Pre-tax profit more than trebled to £5.1m (2022: £1.6m).
Dividend per share was hoisted 10 per cent to 10.50p and cash was fractionally higher at £9.5m with continued strong operating cashflow of £8.4m in the year (£5.6m).
The company sells hospitals its proprietary chlorine dioxide chemistry for the decontamination of medical devices under the Tristel brand and for the sporicidal disinfection of environmental surfaces under the Cache brand.
Chief executive Paul Swinney said: “The enormous achievement of the year has been the FDA approval, which enables us to enter the largest healthcare market in the world.
“We will also be able to leverage the significance of an FDA approval in countries that look to the USA regulator for their own practice. This includes Central and South America. We now have the opportunity to establish a global footprint for our products and technology.
“We have commenced manufacture and shipped product to our first customers in the US. The outlook for the company is the strongest it has been in its 30-year history.”