Tristel reported a strong set of interims, demonstrating a return to pre-pandemic growth rates. Revenues rose 16% (21%, excluding one-off distortions in H1 2022), with adjusted EBITDA of £4.6m (+29% and margins +90bps to 26.4%) and adjusted pre-tax profit of £3.1m (+43%). Cash at 31 December was £8.4m, after a £3.3m dividend payment (including £1.4m special dividend), with FCF rising 20% to £3.3m. We look forward to FDA clearance later in 2023, the value for which has been boosted by re-negotiat ....
20 Feb 2023
Tristel - Interims – normal service (growth) resumed
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Tristel - Interims – normal service (growth) resumed
Tristel Plc (TSTL:LON) | 438 -43.8 (-2.2%) | Mkt Cap: 207.8m
- Published:
20 Feb 2023 -
Author:
Mark Brewer | Cavendish Research -
Pages:
15
Tristel reported a strong set of interims, demonstrating a return to pre-pandemic growth rates. Revenues rose 16% (21%, excluding one-off distortions in H1 2022), with adjusted EBITDA of £4.6m (+29% and margins +90bps to 26.4%) and adjusted pre-tax profit of £3.1m (+43%). Cash at 31 December was £8.4m, after a £3.3m dividend payment (including £1.4m special dividend), with FCF rising 20% to £3.3m. We look forward to FDA clearance later in 2023, the value for which has been boosted by re-negotiat ....