UP Global Sourcing Holdings PLC Trading Statement (3021M)
07 January 2019 - 6:00PM
UK Regulatory
TIDMUPGS
RNS Number : 3021M
UP Global Sourcing Holdings PLC
07 January 2019
7 January 2019
UP Global Sourcing Holdings plc
"Ultimate Products" or "the Group"
TRADING UPDATE
Ultimate Products, the owner, manager, designer and developer of
an extensive range of value-focused consumer goods brands,
announces the following unscheduled trading update.
The positive momentum that the Group referenced in its FY18
results, announced on 6 November 2018, has continued. There has
been stronger than expected revenue growth across each of its four
strategic pillars (i.e. discounters, UK supermarkets, online
platforms, and international customers), with international
business continuing to account for a larger share.
As a result, and notwithstanding the higher overhead costs
associated with servicing the increased revenue, the Group now
anticipates that its EBITDA performance in FY19 will be above the
market's current expectations.
The Board will provide a further update on the Group's trading
performance following conclusion of H1 FY19 on 11 February
2019.
For more information, please contact:
Ultimate Products +44 (0) 161 627 1400
Simon Showman, CEO
Andrew Gossage, Managing Director
Graham Screawn, Finance Director
Shore Capital +44 (0) 20 7408 4090
Mark Percy
Edward Mansfield
Powerscourt +44 (0) 207 250 1446
Rob Greening
Sam Austrums
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
Notes to Editors
Ultimate Products is an owner, manager, designer and developer
of a series of well-known brands focused on the home, selling to
over 300 retailers across 36 countries. It has six product
categories: Audio; Heating and Cooling; Housewares; Laundry;
Luggage; and Small Domestic Appliances. Its brands include Beldray
(laundry, floor care, heating and cooling), Intempo (audio), Salter
(kitchenware), Constellation (luggage), and Progress (cookware and
bakeware).
The Group's products are sold to a broad cross-section of both
large national and international multi-channel retailers as well as
smaller national retail chains, incorporating discount retailers,
supermarkets, general retailers and online retailers.
Founded in 1997, Ultimate Products is headquartered in Oldham,
Greater Manchester, where it has design, sales, marketing, buying,
quality assurance, support functions and warehouse facilities
across two sites. Manor Mill, the Group's head office, includes a
spectacular 20,000 sq ft showroom that showcases each of its
brands. In addition, the Group has an office and showroom in
Guangzhou, China and a newly established showroom in Cologne,
Germany. In total, Ultimate Products now employs over 240
staff.
For further information, please visit www.upgs.com
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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