REG - Tristel PLC - Trading update

TristelAnnouncement

25/07/2023 07:00

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RNS Number : 0163H  Tristel PLC  25 July 2023

TRISTEL plc

("Tristel" or the "Company")

 

Trading update

 

Tristel plc (AIM: TSTL), the manufacturer of infection prevention products,
provides a trading update for the year ended 30 June 2023, ahead of its Open
Day for shareholders being held today.

 

Demand for Tristel's infection prevention products for medical device
decontamination and for the sporicidal disinfection of surfaces continues to
be very robust across all key geographical markets.

 

As a result, revenues for the year were up 16% to £36.0m (FY 2022: £31.1m),
ahead of consensus forecasts and above the Company's long-term target for
revenue growth. Adjusted profit before tax (adjusted for share-based payments)
will be slightly ahead of consensus forecasts of £6m. Tristel continues to be
debt free and cash generative. Cash balances on 30 June 2023 were £9.5m (30
June 2022: £8.9m).

 

During the year a total of 17m disinfection events took place using Tristel's
chemistry, up 8.2% on the previous year (FY 2022: 15.7m disinfection events).
This is also 42% higher than in the year before COVID temporarily disrupted
Tristel's normal operational performance (FY 2019: 12m disinfection events).

 

Paul Swinney, CEO of Tristel plc, comments: "I am delighted to confirm to
shareholders that the business continues to deliver a strong trading
performance and growth ahead of both analyst expectations and our own growth
targets.

 

"In early June we achieved a major milestone by obtaining approval from the US
Food and Drug Administration for our Tristel ULT disinfectant for ultrasound
instruments. We are now manufacturing and marketing our products in the USA
and Canada and starting to expand in Latin America. We look forward to
updating shareholders on our commercial progress in these markets as we
continue through the financial year.

 

"Looking forward to the years ahead, I am confident that Tristel will truly
become a leading global player in the infection prevention industry. We now
have access to the world's largest ultrasound market for our high-level
medical device decontamination products and we have an exciting pipeline of
new product innovations supported by a strong balance sheet. We are very
excited about the prospects for further growth and the outlook is positive."

 

A recording of the presentation that will be delivered to shareholders today
will be made available on the Company's website, shortly after the event here:
https://tristelgroup.com/invest/webinars-presentations/
(https://tristelgroup.com/invest/webinars-presentations/) .

 

The information communicated in this announcement is inside information

for the purposes of Article 7 of Regulation 596/2014.

 

For further information please contact:

 

 Tristel plc                            Tel: 01638 721 500
 Paul Swinney, Chief Executive Officer
 Liz Dixon, Chief Financial Officer

 Walbrook PR Ltd                        Tel: 020 7933 8780 or tristel@walbrookpr.com (mailto:tristel@walbrookpr.com)
 Paul McManus                           Mob: 07980 541 893
 Lianne Applegarth                      Mob: 07584 391 303

 finnCap                                Tel: 020 7220 0500
 Geoff Nash/ Charlie Beeson (Corporate Finance)
 Alice Lane (ECM)

 

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