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Started: janebolacha, 18 Dec 2023 10:47
Last post: sageoflondon, 12 Jun 2024 15:22
I think this is a bit of an over-reaction. Companies normally have some product recall insurance which will cover some of the cost. The device is circa £63 on Amazon, that's a cost of roughly £47 per unit (for the full unit), but we are talking about the adaptor, which is likely much less costly. Likely below £20. That's a circa £400k hit, with no insurance, with some admin cost, say £500k with no insurance. That's not a big hit and at present it looks relatively isolated. These things happen frequently. Now if they had say 3 products and it was a third of the portfolio that would be concerning, but it's one of many products across a wide ranging portfolio. Looks like an overreaction to me - it isn't currently considered material enough to warrant an RNS.
Started: Bobberoonie, 31 Oct 2023 08:49
Last post: his2jen, 31 Oct 2023 10:49
Go to ULTP - ticker changed with new name update yesterday
Thanks all. Doesn't seem to be showing any live trades either
Started: Bobberoonie, 31 Oct 2023 08:50
Last post: Bobberoonie, 31 Oct 2023 08:50
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.
Started: Bobberoonie, 31 Oct 2023 08:28
Last post: TaltBong, 31 Oct 2023 08:47
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?
Started: Florence141414, 31 Oct 2023 07:31
Last post: Howardzzz, 31 Oct 2023 07:34
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
Started: EquityDevelopmen, 16 Oct 2023 14:10
Last post: EquityDevelopmen, 16 Oct 2023 14:10
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
Started: EquityDevelopmen, 25 Sep 2023 14:41
Last post: EquityDevelopmen, 25 Sep 2023 14:41
"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.
Started: Howardzzz, 15 Aug 2023 09:43
Last post: Bobberoonie, 6 Sep 2023 14:35
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...
Started: EquityDevelopmen, 15 Aug 2023 07:37
Last post: EquityDevelopmen, 15 Aug 2023 07:37
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.
Started: Bobberoonie, 10 Aug 2023 09:42
Last post: Bobberoonie, 10 Aug 2023 09:42
Does anyone know if there is some news / trading update, ex-div coming up that’s causing the sell off.
Thank you
Started: EquityDevelopmen, 17 Jul 2023 07:40
Last post: EquityDevelopmen, 17 Jul 2023 07:40
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.
Started: Bobberoonie, 10 Jul 2023 15:19
Last post: Bobberoonie, 10 Jul 2023 15:19
Is there news due. Thank you
Started: EquityDevelopmen, 14 Jun 2023 12:19
Last post: EquityDevelopmen, 14 Jun 2023 12:19
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
Started: Bobberoonie, 1 Jun 2023 10:21
Last post: muzmanoz, 1 Jun 2023 12:14
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
Started: Bobberoonie, 26 Apr 2023 16:43
Last post: Bobberoonie, 26 Apr 2023 16:43
Any thoughts on sell off reason, just general trading? Thank you. Robert
Started: EquityDevelopmen, 3 Apr 2023 21:24
Last post: EquityDevelopmen, 3 Apr 2023 21:24
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
Started: Bobberoonie, 29 Mar 2023 09:44
Last post: Zidane, 29 Mar 2023 10:43
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
Started: EquityDevelopmen, 29 Mar 2023 08:32
Last post: EquityDevelopmen, 29 Mar 2023 08:32
Ultimate Products' interim results strongly suggest that the company is well placed for sales growth acceleration in H2 and to meet current market expectations. Online sales in H1 increased by 78% to represent 26% of group total, which is positive as this distribution channel has a smaller skew to H1 than others. Moreover, UPGS’s brands continue to demonstrate an ability to gain market share and grow through volume rather than pricing.
We maintain our view that the company’s current valuation does not fairly reflect UPGS’s three key growth drivers - brands, online & supermarkets distribution, and international. With external headwinds easing, an H2 acceleration is in prospect. In addition, growth is volume driven off a strong financial base. We base our 250p fair value / share assumption on an FY2023 EV/sales ratio of 1.5x, 12x EV/EBITDA and 16.6x P/E.
https://www.equitydevelopment.co.uk/research/well-placed-for-sales-growth-acceleration-in-h2
Started: Bobberoonie, 23 Mar 2023 16:08
Last post: sageoflondon, 28 Mar 2023 15:07
and now they are buying ahead of the results - same pattern everytime......likely to be a sell off after results, even if they are decent based on previous buying / selling patterns!! I will be here rain or shine for the long term.
Hi Sage,
Thank you for taking the time to write back, most kind. Fingers crossed that it does get the recognition it deserves. Just seems odd that people are selling off prior to the results.
Thank you again and have a nice weekend.
Gratefully,
Robert
Personally - I think this is a very well run company. Most companies don't have ever increasing earnings without any blips - this looks to be about as close as you can get. At present this company isn't valued as a brand owner in my opinion - it now owns Salter and Beldray etc. Salter isn't going to set the world alight growth wise but it should add stability to UPGS earnings - a great buy at a decent price. Unless there is something I am missing I think this is an excellent long term investment. When the market doesn't like it we are provided with an opportunity to top up at a discount - make the most of it as appropriate. Collect the dividends as you wait for the market to re-evaluate the valuation.
Can someone please explain the selling off of shares as we approach the trading update? It makes no sense at all. This companies position for last year final results where nothing shore of amazing:
Financial highlights
· Total revenue up 13% to a record £154.2m (FY21: £136.4m)
o International revenue up 22% to £53.1m (FY21: £43.5m)
o Supermarket revenue up 32% to £51.5m (FY21: £38.9m)
o Online revenue up 23% to £25.3m (FY21: £20.6m)
· Adjusted EBITDA* up 41% to £18.8m (FY21: £13.3m)
· Statutory profit before tax up 62% to £15.4m (FY21: £9.5m)
· Adjusted profit before tax* up 42% to £15.8m (FY21: £11.2m)
· Statutory EPS up 54% to 14.3p (FY21: 9.3p)
· Adjusted EPS* up 32% to 14.7p (FY21: 11.1p)
· Full year dividend per share up 42% to 7.12p (FY21: 5.02p)
· Net bank debt/adjusted EBITDA* ratio of 1.3x (FY21: 1.4x)
· Facilities headroom at 31 July 2022 of £17.8m (31 July 2021: £16.2m)
What more can people and from them to think it is a good company?
Any thoughts much appreciated.
Robert
Started: EquityDevelopmen, 7 Mar 2023 14:40
Last post: EquityDevelopmen, 7 Mar 2023 14:40
Ultimate Products, the owner, manager, designer and developer of an extensive range of value-focused consumer goods brands, will be conducting a live presentation following the release of their Interim Results.
The event will take place at 11.30am on Thursday 30th March.
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.
Sign up to register here: https://www.equitydevelopment.co.uk/news-and-events/upgs-investor-presentation-30march23
Started: Bobberoonie, 14 Feb 2023 15:36
Last post: sageoflondon, 14 Feb 2023 15:52
Profit taking - possible buying in prior to results, betting on an outperform.....when it's in-line they sell. Me I'm continuing to hold. This has been a great investment last 5 years, especially with dividends on top. 5 year view - this will be at £2-£3 a share - just my opinion for what it's worth. Based on organic growth, Petra, online expansion etc. Well run, management very competent indeed based on what I have seen in the last few years. Lots of skin in the game for management as well.
I don't know why the share keeps fluctuating so much when all the company does is keep producing great results and growth despite every seeming adversity.
Started: EquityDevelopmen, 14 Feb 2023 07:35
Last post: EquityDevelopmen, 14 Feb 2023 07:35
New research note and audio summary here:
https://www.equitydevelopment.co.uk/research/online-drives-first-half-growth
Online channels were the main driver of growth for UPGS in the first half of FY2023 with a 2% sales revenue gain - areas of product strength included energy efficient and money saving items, which were cited as being buoyant across all distribution channels. At the same time key indicators of financial strength also improved. The trading backdrop also showed signs of improvement in the first half. Commenting on outlook, the company anticipates that the market’s current expectations for FY2023 will be met. UPGS continues to highlight the positive impact that the company’s automation programme is having on the business.
Despite recent share price strength, we still believe that the current valuation fails to fairly reflect UPGS’s three salient growth drivers - brands, online & supermarkets distribution and international. With external headwinds easing, a second half acceleration is in prospect, plus a robust financial position, the near-term outlook appears positive. We reiterate our 250p fair value per share (based on an FY2023 EV/sales ratio of 1.5x and 12x EV/EBITDA).
Started: sageoflondon, 10 Feb 2023 10:09
Last post: GingerHippo, 13 Feb 2023 13:25
Yes tomorrow could be very interesting.
apologies - I meant a trading update on Tuesday.....!!!
I believe we are due a trading update on Monday. Whilst I am not expecting this to be significantly ahead, I would expect something in line, with a slightly improved outlook as it relates to input cost inflation, particularly shipping. I am expecting some news on how things are going with some of the supply disruption that previously impacted online sales. It would also be good to get an update on Petra and how that has started to perform. Overall I think it will be a positive update. Fingers crossed.
Started: Bobberoonie, 4 Jan 2023 15:10
Last post: Bobberoonie, 4 Jan 2023 15:10
There maybe some more seasoned share owners than myself here and I was just wondering, does it seem likely to retrace a bit after the ex-dividend date is passed tomorrow.
Thank you in advance.
Robert = )
Started: EquityDevelopmen, 10 Nov 2022 11:51
Last post: EquityDevelopmen, 10 Nov 2022 11:51
Ultimate Products, the owner, manager, designer and developer of an extensive range of value-focused consumer gos brands, conducted an investor presentation following the release of their Full Year Results.
Simon Showman (CEO), Andrew Gossage (Managing Director) and Chris Dent (Finance Director) discussed operational highlights of the past few months, including their success in managing the numerous supply side challenges. As they face into the current demand side headwinds, they talked investors through their robust brand portfolio and the diversity of their distribution channels which leave them in a strong position to continue delivering on their objectives.
If you missed the live event yesterday, you can see the full video (approximate length 50 minutes), which is divided into chapters:
0:00:03 Introduction & Ultimate Products overview
0:04:47 Highlights (Financial & Operational)
0:12:00 Strategy
0:27:05 Financials
0:38:58 Summary & Outlook
0:42:08 Questions & Answers
Link to video presentation: https://www.equitydevelopment.co.uk/research/upgs-fyresults-investorpresentation-nov22