Tristel smashes all revenue records and eyes further growth in North America

The company makes infection prevention products for hospitals and is soaring in the massive US market. Trading was ahead of both market expectations and internal performance targets.

Tristel continues to be debt free and at the end of year cash and short-term investments balances were £11.8 million, including £5.7m held as short-term investments.

The company's core business is the sale to hospitals of its proprietary chlorine dioxide chemistry for the decontamination of medical devices under the Tristel brand (87 per cent of total sales), and for the sporicidal disinfection of environmental surfaces under the Cache brand (eight per cent of total sales).

Turnover was up 16 per cent from £36m to £41.9m and adjusted pre-tax profit 32 per cent higher to £8.2m while reported pre-tax profit soared 39 per cent to £7.1m, Dividend per share for the full year rocketed 29 per cent to 13.52p.

The period was also notable for the first manufacture and sale of Tristel ULT into the United States ultrasound market and approval of Tristel ULT by Health Canada. Post period end, Tristel OPH has been submitted to the US FDA.

Matt Sassone, the recently installed CEO who replaced Paul Swinney, said: I am delighted to take on the role as Chief Executive of Tristel and at a stage when we can build on our growing and well-established global footprint for our products and technology.

“It is clear from my first weeks in the role that we have in place the foundations for further success: we have a hugely talented team, differentiated and innovative products that are already well established as market-leading, and have a host of exciting commercial opportunities to deliver further growth. It is no wonder that as a Board we remain very confident about the outlook for the company.”