Tristel shares yesterday rose a further 10p to 115p after publication of annual results, which pleased the markets. The results had partly been anticipated as the shares had already risen over 10% from 95p, since the 5th October. Two years ago the shares could be bought for 25p.
In 2014 dividends rose fourfold from 0.4p to 1.62p and this year they have been increased by a further 350% to 5.72p. That is a fourteenfold increase in two years.
Tristel, which listed on AIM in 2005, manufactures products for infection and contamination control and clean rooms, based on its own chlorine dioxide formula and which replaced the main existing product which was toxic.
Results for the last three years show rapid growth, helped by strong overseas demand. Overseas sales rose by 21% in 2014-15 and now account for 35% of total sales. Turnover rose by 14% over last year, EBITDA by 25% and basic earnings per share by 67%.