Business
Positive H1 Trading Update & Directorate Change
Tristel plc reported a positive first half with revenues up 14% year-on-year, maintaining gross margins at 81% and increasing adjusted EBITDA by 17% to 28% margins, exceeding their 25% target. The company remains debt-free and cash generative, with cash balances at £13.3 million as of December 31, 2025, and continues to see progress in the US market. However, the company also announced that CEO Matt Sassone will resign at the end of the financial year to take a role with a US multinational, though the board is confident in management depth and the ongoing recruitment process. Disclaimer*
About this update from Tristel Plc
[{"type":"text","content":"\n\nTRISTEL plc\n(\"Tristel\" or the \"Company\")\n \nPositive H1 Trading Update\n& Directorate Change\n \nTristel plc (AIM: TSTL), the manufacturer of infection prevention products, announces a positive trading update for the six months ended 31 December 2025. The board remains confident in delivering full year results in line with market expectations and the Company's own performance targets.\n \nH1 Financial Highlights\n· H1 revenues increased by 14% year-on-year\n· Gross Margins maintained at 81%\n· Adjusted EBITDA increased by 17%\n· EBITDA margins of 28%, comfortably ahead of the 'at least 25% target'\n· Continued progress in US with revenue growth in line with internal forecasts\n· Tristel continues to be debt free and cash generative\n· Cash balances at 31 December 2025 were £13.3m\n \nThe above highlights are based on unaudited figures and the Company intends to announce its interim results in early March.\n \nDirectorate Change\nThe Company also announces that Matt Sassone, Chief Executive Officer, has confirmed to the Board his decision to resign to take up a worldwide President role with a large US multinational, leading a significant global business. Matt will actively continue in post until the end of the financial year and has fully committed to continue leading the business through this period. The Board has already commenced the process to appoint a new CEO and is confident that there is sufficient management depth in the business to ensure that trading will not be impacted during the transition.\n \nCommenting Matt Sassone, Chief Executive Officer, said:\n\"This is undoubtably one of the hardest business decisions I have ever had to make. The real strength of Tristel has never been one person, as the business has been carefully built on leaders at every level. Our strategy for growth is robust and remains unchanged, and the momentum we have is very real and can be seen already in the strong H1 performance. I am confident that the investment case of the business remains as compelling as ever.\n \n\"The opportunity I have to return to the US with my family, and to work in such a senior role with a large US multinational, is one which resonates with me...