Tristel’s (LSE: TSTL) sales on fast lane with double-digit growth in FY23

3 min read | August 28, 2023 12:11 PM AEST | By Team Kalkine

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Tristel’s (LSE: TSTL) sales on fast lane with double-digit growth in FY23 — Image source: © Eraxion | Megapixl.com

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Highlights

Tristel PLC (LSE:TSTL), headquartered in Snailwell, is involved in infection prevention and contamination control manufacturing.

In FY23, TSTL registered 16% YoY growth in revenue.

In H1 FY23, the overseas sales levelled up by around 12% year on year.

FTSE AIM All-Share index listed Tristel PLC (LSE:TSTL) is involved in infection prevention and contamination control manufacturing. Headquartered in Snailwell, the United Kingdom, the firm was established in 1993.

Tristel concluded the fiscal year 2023 with a magnificent growth in top-line business. TSTL registered a year-on-year growth of about 16% in revenue. During the reporting period, there has been an increase of approximately 8.2% in disinfection events to a total of 17 million.

In the first half of FY23, the overseas sales levelled up by around 12% year on year, while UK sales saw a surge of over 24% YoY during the period. The company posted a basic earnings per share of 3.19 pence during H1 FY23.

TSTL paid an interim dividend of 2.62 pence per share in April 2023 with an ex-dividend date of 16 March 2023.

The company’s cash balance has grown to £9.5 million during FY23 from £8.9 million in FY22.

During the fiscal year 2023, the level of diagnostic examinations completed through TSTL's products was more as measured against the pre-pandemic levels. Expanding its footprint, TSTL introduced Tristel Duo into the North American ultrasound and ophthalmology markets. Also, the company has shored up its presence in the Canadian market with the launch of Duo Ophthalmology. Currently, Tristel is anticipating approval of its FDA submissions.

Top 10 shareholders
Around 48% of the total shareholdings of the firm are held by its top ten shareholders. While Liontrust Investment Partners LLP owns the maximum number of shares with 11.81% shareholding, Montanaro Asset Management Limited holds over 6% stake in the company.

Stock Price Performance

The company’s stock price has fallen by more than 7.35% in the last one month. It has declined by over 4% in the last six months. The stock’s 52-week low and 52-week high price stand at GBX 272.00 and GBX 440.00, respectively.

Please note markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 23 August 2023. The reference data in this report has been partly sourced from EODHD/Others.

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