Reasons to be cheerful
The key message emanating from Strix’s AGM trading update is that despite the wider macro challenges, Strix is once again delivering in line with guidance. A variety of management actions have proven effective in offsetting the challenging environment. Commodity price inflation and supply chain issues have been largely neutered by a combination of product price increases, forex and hedging strategies, increased automation, and other efficiency measures. New product launches, coupled with price increases should result in a continued H2 bias to trading.The Group is also successfully managing operations in China, with any concern that the issues in Shanghai might spill over into the Group’s revenues allayed. The Group now hold finished goods across several facilities to ensure continuity of supply to customers.
Strix Group is a holding company. Through its subsidiaries, Co. is engaged in the designing, manufacturing and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration. Co.'s core products are kettle safety controls, which are responsible for disconnecting the power to the heating element when either water has boiled, operated with no water present, or in some products when the kettle is lifted off its base.
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