Disinfection products supplier Tristel (LON: TSTL) generated higher revenues than expected in the year to June 2024. The share price improved 6.67% to 480p.
Full year revenues were 16% ahead at £41.9m, which beat the company’s target rate of annual growth of 10-15%. Underlying pre-tax profit will be at least £8m, compared with the forecast of £7.6m. There was £11.6m in the bank at the end of June 2024.
Demand for Tristel products is strong across its various geographic regions. North American sales of Tristel ULT disinfectant for ultrasound instruments commenced in February.
Cavendish is holding off updating its forecasts until Matt Sassone takes over as its new chief executive in September and the full results are published in October. There should be a better idea of the new chief executive’s initial plans, although there is unlikely to be major changes. The 2024-25 pre-tax profit forecast is currently £10m.
Matt Sassone experience of the US market will be useful to Tristel. He developed the high usage programme (HUP) for non-invasive hemodynamic monitoring technology developer LiDCO. Under the HUP the hospital can treat any number of patients with a monitor during the year when they sign up for a multi-year deal.