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.
Up Global Sourcing Holdings is a supplier of household products to global markets. Co. is the owner, manager, designer and developer of a range of consumer goods brands, focused on the home. Co. sources, imports and sells products across a range of categories including small domestic appliances, audio, laundry, housewares, heating and cooling and luggage.
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