Stellar Tristel posts another year of double digit revenue growth
The share price fell 3.50p to 354.50p despite a rising dividend and a fine all-round set of results.
Based in Snailwell, near Newmarket, the company announced 23 per cent growth in adjusted pre-tax profits and strong cash generation – trading in line with both market expectations and internal performance targets. A triple whammy saw Tristel deliver another year of double-digit revenue growth, strong growth in pre-tax profits and robust cash generation from operations. It continues to be debt free and end of year cash and short-term investments balances were £12.8 million.
Turnover rose 11 per cent to £46.5m (2024: £41.9m) with adjusted pre-tax profit up 23 per cent to £10.1m (£8.2m); reported pre-tax profit is up 18 per cent to £8.4m (£7.1m). The icing on the cake is the full-year dividend – five per cent ahead to 14.20p (13.52p).
Cash and short-term investment balance was £12.8m (£11.8m), with continued strong operating cashflow of £10.3m in the year (£10.9m).
Highlights included the company winning FDA clearance for Tristel OPH, a high-level disinfectant (HLD) foam for use on ophthalmic medical devices which further underlined the potential for huge future sales in the US.
A 90-day study in partnership with the Mayo Clinic concluded that Tristel ULT was an effective and efficient method for HLD, offering a safe, easy process that reduces medical damage to ultrasound probes.
The company has now appointed a new CFO in Anna Wasyl, launched a new ultrasound probe decontamination product, Tristel VISICLEAN™, and seen Q1 sales of its DUO ULT more than double the return from the whole of the first half of 2024.
Demand in the US remains significant and Treatt reports a high volume of leads with engagement across approximately 200 health systems. Priority is now to drive deeper adoption within these accounts to establish sustained, recurring revenue growth.
Chief executive Matt Sassone said: “Tristel has delivered another strong year, with revenues up 11 per cent to £46.5m, gross margin expanding to 81 per cent and adjusted pre-tax profit rising 23 per cent to £10.1m. This performance reflects the strength of our core business, robust cash generation and continued disciplined execution, enabling us to increase the dividend while maintaining a debt-free balance sheet.
“Operationally, we achieved several important milestones: FDA clearance of Tristel OPH, recognition of chlorine dioxide foam in updated US standards, and the publication of independent clinical evidence with leading institutions such as the Mayo Clinic. These achievements further validate our differentiated technology and expand our addressable market.
“With Anna joining the Board, new product launches including VISICLEAN™, and a solid cash position, we remain confident in our ability to deliver sustained revenue growth, strong profitability and attractive shareholder returns.”
