Updates

Tristel

November 2025

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

For the year, sales were up 11% to £46.5m, driven by a mix of 2% price rises and 9% volume growth - a notable shift from recent years when pricing contributed the bulk of expansion. EBITDA advanced 16% year-on-year to £12.6m, while lower non-cash and tax charges saw adjusted PBT and EPS exceed expectations by 12% and 19%, respectively, at £10.1m/17.3p. Strong free cash flow left net cash up £1m at £12.8m. Gross margin was a mouthwatering 80.6% (up 0.5% year-on-year) and could be higher in future - if only its medical disinfectant for ultrasound probes in the key US market starts to gain traction. Although distribution partner Parker Labs is said to be talking to 200 institutions, income from ULT was only up from £74k to £108k. As ...

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