Tristel ups dividend as first-half profits jump
By Benjamin Chiou
Date: Monday 24 Feb 2025
(Sharecast News) - Disinfectants manufacturer Tristel raised its interim dividend by 8% after a double-digit increase in profits in its first half, though sales growth in the UK has slowed dramatically.
The company, whose products contain proprietary chlorine dioxide technology, reported an adjusted pre-tax profit of £4.9m for the six months to 31 December, up 19% on the year before. The adjusted pre-tax profit margin improved to 21% from 20%.
Revenues were 8% higher at £22.6m, with UK sales up 7% at £8.8m and overseas sales rising 9% to £13.8m.
Following a 31% surge in UK sales in the last financial year ended 30 June 2024, chief executive Matt Sassone said Tristel's largest market "has now returned to a more typical trading pattern" following an exceptional performance.
Nevertheless, Sassone labelled the first half as a "strong financial performance" for the company, "driven by higher first-half revenues, maintained gross margin, and disciplined cost control".
"As outlined in our AGM statement, we remain on track to meet our internal revenue growth target of 10-15% CAGR over the three years to 30 June 2025," he said.
Tristel declared an interim dividend of 5.68p per share, up from 5.24p paid out last year.
Shares were down 2% at 340p in afternoon trade, extending the year-to-date loss to 20%.
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