Tristel returning to pre-pandemic growth trajectory

12th Dec 2022 14:16

(Sharecast News) - Infection prevention product developer Tristel said in an update on Monday that it was returning to its "pre-pandemic growth trajectory", with first-half revenue set to top £17m, compared to £15m in the same period last year.

The AIM-traded firm, which was holding its annual general meeting, said revenue growth was consistent across all of its geographies.

Chief executive officer Paul Swinney added that gross margin was in line with expectations.

"With respect to North America, we have made our first sales in the United States and Canada, and we are preparing the additional data requested by the Food and Drug Administration (FDA) in September," Swinney told shareholders.

"We expect to submit it in March next year, meeting the FDA's deadline and facilitating a decision from the agency around our year-end in June."

Tristel was confident of a successful outcome, Paul Swinney said.

"The company is making good progress.

"With no debt and cash of approximately £10m we face the prevailing economic environment with confidence."

At 1325 GMT, shares in Tristel were up 7.36% at 386.51p.

Reporting by Josh White for Sharecast.com.