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UP Global Sourcing - Terrific buying opportunity after upgrades

February 2019

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • UPGS
  • Price:
  • 49.5p
UPGS, the owner, licensee, developer and manager of popular consumer brands such as Beldray (ironing boards), Salter, Russell Hobbs (kitchenware) and Intempo (audio brand for teenagers), shows early signs of recovery.Results for the year ended 31st July met expectations with EBITDA declining 44% to £6.5m on sales down 20% to £87.6m due to a tougher consumer spending environment and deferral of customer orders (previously highlighted). Eps declined 47% to 5.4p. Net debt increased from £6m to £12.9m in line with expectations and reflecting higher inventory levels (driven by sales mix and good growth in Q1 ’19 forward orders). Net debt / EBITDA was 2.0x. However this was well within covenants and borrowing headroom was £9.1m.Sub ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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