Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Https://www.irishmirror.ie/news/irish-news/urgent-recall-thousands-vacuums-sold-31686603
Go to ULTP - ticker changed with new name update yesterday
Thinking of moving onto shares magazine instead of here as only £12 a month. Anyone tried it before or recommend any other sites for live trades and information.
Thanks all. Doesn't seem to be showing any live trades either
The RNS is out but not showing on LSE. Try Vox or the company website maybe.
Go to ULTP
Where are you getting the results from as RNS out yet?
Yes, pleasing results. Let's hope they start to shift the share price, after long months of stagnation.
Sparkling results in the context of the current macro environment
Ultimate Products, the owner of a number of leading homeware brands including Salter (the UK's oldest houseware brand, est.1760) and Beldray (est.1872), will be conducting a live presentation following the release of their Full Year Results for the period to 31st July 2023.
The event will take place at 11.00am on Monday 6th November.
The online presentation will be hosting by Simon Showman (CEO), Andrew Gossage (Managing Director) and Chris Dent (CFO) and is open to all existing & potential shareholders. Questions can be submitted during the presentation and will be addressed at the end.
Link to register: https://www.equitydevelopment.co.uk/news-and-events/upgs-investor-presentation-6nov2023
"Beautiful products for every European home" - new Paris showroom (note and audio summary here: https://www.equitydevelopment.co.uk/research/beautiful-products-for-every-european-home)
UPGS today announced the opening of a new showroom in Paris, which will facilitate the expansion of its leading homeware brands not only into France but continental Europe overall. Furthermore, as demonstrated with Petra in Germany, stronger sales and an elevated business profile expands the scope to make growth-oriented acquisitions in the region.
We continue to place a fair value of 250p for UPGS’s shares, which in our view is reasonable given it implies 1.3x sales and 11x EV/EBITDA based on our FY2024 forecasts. Investors should also note that the company’s two most recent updates included better than expected outcomes on net debt and sales growth.
Why is everyone selling off on here day after day. any insights much appreciated. Thank you
Very encouraging update but it may take a while to feed into the share price...
New research report & audio summary here from Equity Development: https://www.equitydevelopment.co.uk/research/second-half-15-sales-growth-beats-expectations
UPGS comfortably beat full year FY2023 expectations for sales revenue in a trading update released today, as H2 sales accelerated sharply to show 15% growth compared with 2% in the first half of the year. Importantly, this growth was achieved despite no overall price inflation as the group sought to sell its branded homeware products at prices that would be affordable to consumers. In our view, the ability of a consumer goods company to generate sales volume growth in the relatively mature economies of the UK and Continental Europe should be valued highly.
Profits were in line with expectations. Online revenues were notably strong and increased by 64% in FY2023.
With robust finances and a clear message that the UPGS brands are delivering brisk sales growth, we reiterate our 250p fair value for the shares.
Does anyone know if there is some news / trading update, ex-div coming up that’s causing the sell off.
Thank you
New note from Equity Development: https://www.equitydevelopment.co.uk/research/debt-reduction-confirms-financial-strength
UPGS announced a significantly better-than-expected improvement in its debt position today. Net FY23 year-end bank borrowings are expected be in the region of £15m compared with current market expectations of closer to £21m. The financial benefits of lower net debt in the current climate of rising interest rates are clear.
UPGS’s cash generation capabilities not only underpin its generous dividend policy (50% of net profits) but also enhance strategic flexibility. The company is not only able to weigh up the relative benefits of increased pay-outs to shareholders (e.g. a higher dividend pay-out ratio or share buybacks) but also to take advantage of potential acquisition targets on offer.
Today’s announcement reinforces confidence in both our own and consensus FY2023 forecasts being achieved. Our 29 March 2023 report commented that a £163m full year revenue figure would require double-digit growth in the second half. Given that UPGS expects its end-year FY2023 net debt:EBITDA to be 0.7x (vs. 1.3x a year earlier), we infer that the company itself shares our confidence. Second half sales growth clearly accelerated sharply.
A combination of strong sales growth and associated financial strength is central to the investment case for UPGS’s shares as the company strives to deliver affordable “feel good” branded products for every home. We reiterate our fair value of 250p; this valuation implies 1.4x EV/sales and 11.7x EV/EBITDA using an improved £15m end-FY2023 net debt estimate.
Is there news due. Thank you
UPGS hosted a capital markets presentation at the Exclusively Homewares exhibition in London’s Business Design Centre yesterday to discuss the upcoming re-brand of Salter as part of its overall brand rejuvenation programme. Having confirmed its expectations for FY2023 financial performance in a statement the previous week, prospects for a strong second half to the year remain in place.
UPGS’s belief that it will match market expectations in FY2023 is important. With an end-July year-end the company has significant visibility regarding the FY2023 H2 trading period. A £163m full year revenue figure would require double-digit growth in the second half, which would be impressive and something that the business is clearly confident of achieving.
Accelerated sales momentum in FY2023 H2, prospects of major benefits from a holistic approach to brand management and sustained commitment to serving the mass market with affordable “feel good” products for every home reinforce our view that fair value for UPGS’s shares is 250p. We base this view on 1.5x EV/sales and 12.2x EV/EBITDA.
Link to note with audio summary: https://www.equitydevelopment.co.uk/research/innovating-for-growth
It's ex dividend today. Interim dividend of 2.43p. But yes the share price is volatile here. Consensus of 2023 eps of 14.7p and dividend of 7.3p. I'm happy to hold. Hopefully they will pay some of the debt off but that, and the interest rate position, seems well managed.
This share, just hard work getting anywhere
Any thoughts on sell off reason, just general trading? Thank you. Robert
Ultimate Products, the owner of a number of leading homeware brands including Salter (the UK's oldest houseware brand, est.1760) and Beldray (est.1872), conducted a live presentation following the release of their Interim Results.
Simon Showman (CEO), Andrew Gossage (Managing Director) and Chris Dent (CFO) ran investors through a detailed financial review and the key operational highlights of the period. The team discussed in a Strategy section the strength of their brands, the resilience of the company model, and the growth opportunities ahead. Management also answered investor questions in a wide-ranging Q&A session.
If you missed the live presentation, you can see the full video at the below link (divided into chapters for ease of viewing):
0:00:30 Introduction to UPGS - Simon Showman (CEO)
0:03:47 Financial & Operational highlights
0:11:11 Strategy section - Andrew Gossage (MD)
0:25:11 Financials - Chris Dent (CFO)
0:35:41 Summary & Outlook - Andrew Gossage (MD)
0:39:43 Questions & Answers
Link to video: https://www.equitydevelopment.co.uk/research/upgs-interim-results-investor-presentation-march-2023
The fact that they hve held on to the same margin levels, despite inflation, without increasing prices shows the managment is doing an excellent job in improving efficiency. The cost of sales being level YoY also quite impressive, as well as debt and cahs going the right way.
I'm not sure what the market is expecting from this, but to me it looks a well run company with decent avenues into new markets. I'm also happy to hold here and collect the dividends, may add if it drifts back down to £1.
Results show real resilience for me. Supermarkets de-stocking a little to be expected, online sales growth however very strong. I would imagine (but don't know for sure) that this is one of the factors facilitating margin maintenance without price rises - more pricing power online than with the supermarkets - so not a bad thing. As I said previously, quite normal these days for a large drop with an in line performance. Maintaining prices could improve market share as well given the pressure consumers are under....just a thought. Very happy to hold here.
Just to let anyone know that this shows as a sell but was a buy by me:
29-Mar-23 08:39:13 132.30 7,516 9,944