Tristel, a supplier of disinfectants, has reported a 39 per cent increase in its pre-tax profit to £7.1m over the past year, coinciding with the appointment of a new chief executive.
The company, which primarily supplies disinfectant chemicals for medical devices to hospitals, announced record revenue and "strong cash generation" in its audited preliminary results today, as reported by .
The firm's turnover rose by 16 per cent to £41.9m, while its adjusted pre-tax profit (before share-based payments) saw a 32 per cent increase to £8.2m.
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Tristel, based in Snailwell near Cambridge, employs around 250 people worldwide and also markets products for sporicidal surface disinfection under the Cache brand.
Matt Sassone, the new chief executive, joined the company just a month ago, succeeding former chief Paul Swinney who announced his departure last December. "I am delighted to take on the role as chief executive of Tristel and at a stage when we can build on our growing and well-established global footprint for our products and technology," Sassone stated.
In June of the previous year, the company achieved a significant milestone when one of its disinfectant products used for ultrasound instruments received approval from the US Food and Drug Administration, followed shortly by approval from Health Canada.
Sassone noted that Tristel's collaborator, Parker Laboratories, has commenced production and marketing of the new product, securing a strong foothold with several hospitals signing up in the last quarter. He remarked: "It is clear from my first weeks in the role that we have in place the foundations for further success: we have a hugely talented team, we have differentiated and innovative products that are already well established as market-leading, and we have a host of exciting commercial opportunities to deliver further growth."
In concluding, he expressed the board's optimism, "It is no wonder that as a board we remain very confident about the outlook for the company."