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Ultimate Products

January 2024

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.

The shares rallied after Ultimate Products, which owns leading homeware brands like Salter, Beldray, Russell Hobbs and Kleeneze, released record results with revenues up 8% to £166.3m and adjusted EBITDA increasing the same to £20.2m. Eps rose 5% to 15.1p while net debt fell 39% to £14.8m. Ultimate’s value for money credentials, innovative products and demand for energy efficient and money saving products (such as air fryers), drove an acceleration in sales to 15% in H2 from a pedestrian +2% in H1. Salter (+39%) was the stand-out. Online sales, held back in FY’22 due to seized up supply chains restricting stock, grew 64% to £41.4m and now represent 25% group turnover up from 16%. Here, sales mainly come from Amazon, Ebay an ...

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