Disinfectant supplier Tristel reported its pre-tax profit rose by 39 per cent to £7.1m over the last year, as the cleaning company appointed a new chief exec to its helm.
The company, which primarily sells disinfectant chemicals for medical devices to hospitals, reported record revenue and “strong cash generation”, in its audited preliminary results today.
Turnover jumped by 16 per cent for the firm to £41.9m, while its adjusted pre-tax profit (before share based payments) increased 32 per cent to £8.2m.
Located in Snailwell, near Cambridge, Tristel employs around 250 people globally and also sells products for sporicidal surface disinfection under the Cache brand.
New chief executive Matt Sassone joined the company only a month ago, starting in the role after previous chief Paul Swinney announced his departure last December.
“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,” said Sassone.
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.
Sassone added that Tristel’s partner, Parker Laboratories, has since began manufacturing and commercialising the product, “gaining significant traction with several hospitals onboarded in the final quarter”.
He added: “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, we have differentiated and innovative products that are already well established as market-leading, and we 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.”