Updates

Ultimate Products - Prospective PE of 6.8 as buyback continues

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.

ULTP has reported a 6% drop in H1 sales to £79.5m, hit by weaker UK demand (down 13%) and a slowdown in air fryer sales. International sales rose 12% to £29.1m, led by strong growth in European discounter channels (+39%). Sales trends improved through the half, with the Q2 decline easing to 2.2% from 9.3% in Q1. Margins were pressured by a £2m rise in freight costs, pushing gross margins down to 23.2%. Despite tight cost control (expenses up just 3%), EBITDA fell 38% to £7m and operating margin dropped to 8.8%. The company expects a modest H2 recovery, with low single-digit growth and improved margins. Full year sales to end July are expected to hold steady at £155m, with EBITDA of £14.5m (down 19% YoY but signalli ...

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Liontrust - Board reaffirms 50p final dividend

Tracsis

Ultimate Products - Excellent company in a tough market (July 2025)

Ultimate Products (March 2025)

Ultimate Products (June 2024)

Ultimate Products (May 2024)

Ultimate Products (March 2024)

Ultimate Products (January 2024)

UP Global Sourcing - Massive deleverage of balance sheet (September 2023)

UP Global Sourcing - Shares rocket after results (December 2022)

UP Global Sourcing (September 2022)

UP Global Sourcing - Salter acquisition helps take margins to new record (May 2022)

UP Global Sourcing (July 2021)

UP Global Sourcing - Record operating margins hit in H1 (June 2021)

UP Global Sourcing (March 2021)

UP Global Sourcing (December 2020)

UP Global Sourcing - Forecasts upgraded again (August 2020)

UP Global Sourcing (July 2020)

UP Global Sourcing (April 2020)

UP Global Sourcing (March 2020)

UP Global Sourcing (December 2019)

UP Global Sourcing (October 2019)

UP Global Sourcing - Trading ahead of expectations (August 2019)

UP Global Sourcing (May 2019)

UP Global Sourcing - Third eps upgrade since November (March 2019)

UP Global Sourcing - New upgrade cycle (February 2019)

UP Global Sourcing - CEO in good cheer - does this indicate a resumption of home-related spending? (December 2018)

UP Global Sourcing (October 2018)

UP Global Sourcing (July 2018)

UP Global Sourcing - Germany trading ahead of expectations (June 2018)

UP Global Sourcing (March 2018)

UP Global Sourcing (October 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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