AGM Statement
Summary by AI BETAClose X
TRISTEL plc
("Tristel" or the "Company")
AGM statement
Tristel plc (AIM: TSTL), the manufacturer of infection prevention products, will hold its Annual General Meeting at 11am today at the offices Company's headquarters, Unit 1b Lynx Business Park, Fordham Road Snailwell, Newmarket, Cambridgeshire, CB8 7NY.
Matt Sassone, Chief Executive Officer, will address the meeting with the following update:
"I am pleased to report that the Company has made a strong start to the new financial year. Trading is in line with expectations and in the first five months we remain firmly on target to deliver revenue growth of at least 10% year-on-year. As in prior years, we expect a greater weighting of revenue and profit contribution in the second half driven by winter seasonal demand across our hospital customer base.
"We are seeing strong volume momentum, underpinned by solid growth in the UK and accelerating demand across Europe, as customers increasingly adopt our chlorine dioxide technologies and our enhanced commercial execution delivers results. It is pleasing to see increasing demand across Europe, given it is the cornerstone of our international business.
"In the United States, we are seeing clear evidence of traction and scale-up potential. Sales of Tristel ULT™ in the first five months of this year are already equivalent to the full-year contribution achieved last year, and Tristel OPH™ has made an excellent start following its launch into the ophthalmology market. Together, these developments have resulted in a 510% increase in total US revenue versus the prior year-to-date. The recognition of our technology in national guidelines for the American Institute of Ultrasound in Medicine, combined with our expanded portfolio offering in the US market, gives us confidence in our ability to build a meaningful and sizeable business in the world's largest healthcare market.
"We remain ambitious, confident and focused on delivery, and look forward to updating shareholders further at our Interim Results in early March."
For further information please contact:
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Tristel plc |
Via Walbrook PR |
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Matt Sassone, Chief Executive Officer |
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Anna Wasyl, Chief Financial Officer |
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Walbrook PR Ltd |
Tel: 020 7933 8780 or tristel@walbrookpr.com |
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Paul McManus / Lianne Applegarth / Anna Dunphy |
Mob: 07980 541 893/ 07584 391 303/ 07876 741 001 |
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Cavendish Capital Markets Ltd |
Tel: 020 7220 0500 |
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Geoff Nash / Callum Davidson / Trisyia Jamaludin (Corporate Finance) |
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Sunila de Silva (ECM) / Louise Talbot (Sales) |
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About Tristel plc
Tristel plc is a global infection prevention company focussed on the manufacture and supply of products using its unique proprietary chlorine dioxide (ClO2) chemistry. The Company is a market leader in manual decontamination of medical devices, supplying hospitals under the Tristel brand, and under the Cache brand provides products for sporicidal surface disinfection, a more sustainable alternative to commonly used pre-wetted plastic wipes.
Tristel's head office and manufacturing facility is located in Snailwell, near Cambridge, and operates globally employing approximately 270 people across 16 subsidiaries selling into 40+ countries. The Company targets annual revenue growth of between 10% and 15% and an EBITDA margin of at least 25% and the business is profitable, with no debt and has a progressive dividend policy.
The Company has been listed on the London Stock Exchange's AIM market since 2005 (AIM: TSTL).
For more information about Tristel's product range please visit: https://tristel.com
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