Premier brands retain growth momentum
Ultimate Products plc issued a FY2025 pre-close trading update which confirmed market expectations of a 3.4% sales decline in the period and £12.5m EBITDA. However, the company’s owned and licensed brands combined recorded a resilient 5.7% increase, while net debt at £14.1m and 1.1x EBITDA was close to the stated 1.0x target.The company is also reviewing its listing venue with a potential move to AIM.
We retain our 165p fair value target, with emphasis on the embedded value of its two largest brands, Salter and Beldray, underpinning the investment case.
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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