Disinfectant product maker rides post-pandemic crest as it looks to break America
Infection prevention product manufacturer Tristel rode the crest of the post-pandemic wave and weathered Brexit disruption, as it sets its sight on the American market.
The company benefited from society recovering from coronavirus, with a spike in the use of disinfectant products, particularly in hospitals, as procedures return after lockdowns.
It said there were almost 16m instances of its disinfectant products, a 31 per cent increase on the year ending 30 June 2019, before Covid struck.
It announced its pre tax revenue and profits were expected to be in line with forecasts, at £28.4m and £4.5m, adding that the company had no debt, and its board was going to return some cash to shareholders.
“Hospitals worldwide are gradually returning to normal levels of service, which for Tristel means an increasing number of diagnostic procedures, each requiring a disinfection event”, Paul Swinney, CEO of Tristel, said.
“Our Cache surface disinfectant products are continuing to gain market share in the United Kingdom” he said, adding that it “achieved a major milestone event at the end of June by making its De Novo submission to the United States Food and Drug Administration for its Duo ULT product.
“A decision from the agency is anticipated within the coming year. Within the next five years we have high hopes that America will be a significant revenue and profit contributor to the Group.”
“We are emerging from the disruption caused by Brexit and the pandemic with a highly focussed business, the prospect of entering the largest single healthcare market in the world, with an exciting pipeline of new product innovations, and a strong balance sheet.”