Strong US growth for Tristel with sixfold increase in revenues year-on-year
The company, based near Newmarket makes infection prevention products utilising proprietary chlorine dioxide technology.
Six-month revenue was up 14 per cent to £25.65 million (2024: £22.57m) with the business firmly on track to meet market expectations for the year. UK sales were 13 per cent ahead to £9.88m (2024: £8.75m) and overseas sales up 14 per cent to £15.77m (£13.82m) with a sixfold growth in the US.
Tristel has no debt and cash and short-term investments of £13.29m (£11.74m) after paying dividends of £4.07m (£3.94m).
Matt Sassone, who steps down as Chief Executive at the end of the financial year, said: “Tristel has delivered a strong first-half performance. Profitability remains robust, with gross margin of 81 per cent and an adjusted EBITDA margin of 29 per cent, comfortably ahead of our medium-term targets. Performance has been driven by sustained momentum across our core markets, underpinned by volume growth, pricing discipline, and consistent commercial execution.
“We are particularly encouraged by progress in the United States, where we saw a more than sixfold increase in revenues year-on-year. This growth has been driven by accelerating ULT product sales, expanding clinical validation, and favourable developments in US clinical guidance, including updated AIUM guidelines recognising chlorine dioxide foam technologies.
“Adoption by leading healthcare institutions and increasing utilisation metrics reinforce our confidence in the scalability of the US ultrasound opportunity. The launch of OPH has exceeded expectations with the numerous customers adopting our solution without an evaluation.
“Benefiting from the foundations laid with ULT, Tristel OPH is gaining traction in leading hospital eye institutions, the clinical value proposition of efficiency, safety, and point-of-care usability is resonating with early adopters, and the Company is strategically investing in accelerating this initial success.
“Alongside this, we have continued to invest in growth initiatives, expanding our commercial infrastructure, digital capabilities, and strengthening our innovation pipeline while maintaining strong financial discipline and a debt-free balance sheet.”
