Updates

Strix

May 2025

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.

Strix has long been a cash-generative market leader in kettle control technology, commanding a dominant market share and attractive margins. That strength historically funded expansion into higher-growth niches such as filtered water taps (Billi) and small domestic appliances. However, recent over-reach on acquisitions has left it with an overleveraged balance sheet and during FY24 management pivoted to debt reduction, bringing net debt down by £20m to £63.7m supported by an £8m placing in June. Net leverage is now 1.87x. CEO Mark Bartlett was in good cheer when I met him. FY24 results reflected a volatile year, though December had a strong finish and carried momentum into 2025. Overall sales were down £1m to £144m, with a pretax ...

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Mpac - New 5-year plan to double sales to £400m

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Strix (November 2024)

Strix (August 2023)

Strix (January 2023)

Strix - Buys Billi for £38m (November 2022)

Strix (October 2022)

Strix (August 2022)

Strix - Faster growth from water and SDA divisions (October 2021)

Strix (August 2021)

Strix - Strategy to double sales by 2025 (May 2021)

Strix (October 2019)

Strix (August 2018)

Strix (May 2018)

Strix - Whos who of institutional buyers (September 2017)

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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