Tristel AIM:TSTL
- Founded
- 1993 · Snailwell, England
- Incorporated
- United Kingdom
- Chief executive
- Matt Sassone
- Employees
- 265
- Reports in
- GBP
- Companies House
- 04728199
Infection prevention company whose proprietary chlorine dioxide chemistry disinfects small medical instruments such as ultrasound probes and endoscopes, sold as wipes and foams to hospitals in over 40 countries. US growth is a key driver following FDA clearance of its Duo product for ultrasound disinfection.
Read straight from the annual reports
410p at close on 2 Oct 2026 · 11 reported years, 2015–2025
| Line | FY201506/15 | FY201606/16 | FY201706/17 | FY201806/18 | FY201906/19 | FY202006/20 | FY202106/21 | FY202206/22 | FY202306/23 | FY202406/24 | FY202506/25 | FY2026unreported |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||
| Gross profit | later 24.9 | vs 27.9 | ||||||||||
| Operating profit | ||||||||||||
| Adjusted operating profit | — | — | — | — | — | later 4.8 | ||||||
| Exceptional items | — | — | — | — | — | — | — | |||||
| Net finance cost | ||||||||||||
| Profit before tax | later 1.6 | |||||||||||
| Adjusted profit before tax | — | later 4.6 | ||||||||||
| Tax charge | later 0.11 | |||||||||||
| Profit for the year | later 3.7 | later 0.99 | ||||||||||
| EBITDA | ||||||||||||
| Adjusted minus statutory PBT | — | |||||||||||
| Basic EPS | ||||||||||||
| Diluted EPS | ||||||||||||
| Adjusted EPS | — | |||||||||||
| Dividend per share |
GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
11 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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Sale of chlorine dioxide-based consumable disinfectant products to hospitals for medical device decontamination (Tristel brand)
This product division generated £40.4m, 87% of Group revenue in FY25
page 12Geographic expansion into new direct markets (Spain, India, Austria in FY25)
Business entered direct presence in Spain, India and Austria during the year; further distributor-to-subsidiary transitions planned
page 5Gross margin expansion
Statutory gross margin 81% (2024: 80%); adjusted gross margin 84% (2024: 83%)
page 106Lower price-driven growth, higher volume-driven growth
Of £4.6m revenue growth, £3.8m from volume vs £0.8m from price (2% average uplift, down from 11% in FY24), reflecting resilient underlying demand
page 11£1.4m charge: Exceptional costs relating to the succession of the outgoing CEO and CFO (retirement payment to outgoing CEO/founder and CFO plus recruitment costs for incoming CEO and CFO)
page 109Looking ahead, the Board and management team remain confident in Tristel's outlook... strategy remains focused and proven: creating long-term value for shareholders by leading the industry with Point of Care Medical Device Disinfection and Sporicidal Surface Disinfection, whilst accelerating both product and market expansion.
page 7Directors' Report states there were no significant post balance sheet events to report
page 65Progressive year-on-year dividend policy underpinned by robust cash generation; FY25 final dividend 8.52p and interim 5.68p, total 14.20p (+5% on FY24's 13.52p), dividend cover 1.21x; Board's stated intention is to increase the dividend annually
page 7Financial statements prepared on a going concern basis; directors prepared cash flow forecasts to 31 December 2026 including severe-but-plausible downside scenarios and reverse stress testing; Group had £2.7m short-term investments and £11.1m cash at 30 September 2025. Auditor Grant Thornton UK LLP issued an unmodified/unqualified opinion; key audit matter was risk of fraud in revenue recognition specific to transactional outliers; overall Group materiality £490,000 (5.0% of PBT excl. exceptionals and SBP charges)
page 22- Operations risk - ability to manufacture and supply products in a timely manner, prerequisite to sales growth, gross margin and profitabilityp.22
- Regulatory and legal approval risk - ability to market products directly linked to maintaining regulatory/legal approvals in each country of operationp.22
- Risk of another global pandemic disrupting hospital resources and medical device sales, plus associated supply chain, health & safety and cyber/remote-working risksp.23
- External macroeconomic risk - inflation and public spending changesp.23
Read from C001341-AR-2025-ch.
10 annual reports read, FY2016 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (10)
FY2026Next report expected 25 Oct 2026