Specialist disinfectant manufacturer Tristel is expecting bumper full-year profit and revenue after capitalising on strong demand.
Adjusted pre-tax profit is forecast to come in at £8m, ahead of market expectations and nearly a third higher than last year’s £6.2m.
The firm said it had brought in £41.9m in revenue over the 12 months, also ahead of market expectations and up 16.4 per cent year-on-year. The cash balance as of 30 June sat at £11.6m, up from £9.5m.
“Demand for our infection prevention products continues to be very robust across all the Company’s geographical markets which now include the USA and Canada,” Tristel said in a statement to markets.
Shares rose nearly seven per cent in early trading.
Aim-listed Tristel has a market cap of £229m. Over the years, it has become a leading global player in a specific niche of the global infection prevention industry; the decontamination of non-lumened heat-sensitive medical devices.
Chief executive Paul Swinney said he was “delighted to report to shareholders that the business has delivered another strong trading performance and growth ahead of both analyst expectations and our own growth targets”.
In June last year, the company achieved a major milestone when it obtained approval from the US Food and Drug Administration for one of its disinfectant products used for ultrasound instruments. This was soon followed by approval from Health Canada.
“In January 2024 we received approval for Tristel ULT from Health Canada. We exhibited at numerous conferences across North America during the year and a notable case study was published in May by one of our early adopters, US urologist Dr Matt Allaway,” Swinney, who announced his departure in December after a record set of results, said.
“This is an exciting transition point for our company as I pass the chief executive baton on to Matt Sassone… Looking to the future, we are confident that we will also become a leading player in the hospital surface disinfection market with our unique chlorine dioxide chemistry.”