Tristel (LSE:TSTL) reported another year of strong financial performance, with revenue increasing 10% to £51.1 million for the year ended 30 June 2026. Adjusted profit before tax is expected to reach at least £11.5 million, representing growth of 14% and coming in slightly ahead of market expectations. The infection prevention specialist also maintained an adjusted EBITDA margin above its long-term target of 25%, reflecting continued operational efficiency and strong profitability.
Healthy balance sheet supports international expansion
The company finished the financial year with cash balances of £16.0 million, up from £12.8 million a year earlier, while remaining free of debt. The strengthened financial position provides additional flexibility to support expansion into international markets and invest in future growth initiatives.
Tristel is also preparing for a leadership transition, with Chris Lee set to take over as chief executive on 1 August. The appointment comes as the company looks to build on its recent momentum and further expand its global presence.
Growth strategy remains on track
Management continues to target sustained double-digit revenue growth while maintaining EBITDA margins of at least 25%. Strong cash generation remains a central feature of the business model, supporting both investment in expansion and progressive shareholder returns.
The combination of healthy profitability, international growth opportunities and a solid balance sheet leaves the company well positioned as it enters the new financial year under new leadership.
Investment outlook
Tristel’s investment case is supported by robust financial performance, improving earnings and management’s continued confidence in achieving its growth and margin objectives. However, near-term technical indicators remain subdued, with the shares trading below key moving averages and momentum signals, including the MACD, remaining negative.
The valuation also appears relatively demanding based on its price-to-earnings ratio, although a dividend yield of around 3.6% provides additional support for investors.
About Tristel
Tristel plc is a global provider of infection prevention products specialising in chlorine dioxide-based technologies for the manual decontamination of medical devices and sporicidal surface disinfection. Headquartered near Cambridge, the company operates through 16 subsidiaries, employs around 270 people and sells its products in more than 40 countries.
The business has established a leading position in hospital medical device decontamination while promoting environmentally sustainable alternatives to traditional disinfectant wipes. Its strategy focuses on international expansion, consistent double-digit revenue growth, strong cash generation and progressive dividend growth.
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