Tristel PLC Trading update (0163H)
25 Julio 2023 - 1:00AM
UK Regulatory
TIDMTSTL
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 GBP36.0m (FY
2022: GBP31.1m), 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 GBP6m. Tristel continues to be debt
free and cash generative. Cash balances on 30 June 2023 were
GBP9.5m (30 June 2022: GBP8.9m).
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/ .
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
Paul McManus Mob: 07980 541 893
Lianne Applegarth Mob: 07584 391 303
finnCap Tel: 020 7220 0500
Geoff Nash/ Charlie Beeson (Corporate
Finance)
A lice Lane (ECM)
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END
TSTQZLFLXDLXBBQ
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July 25, 2023 02:00 ET (06:00 GMT)
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