Strix Group maintaining expectations for the full year

Strix Group Plc (LON:KETL), the global leader in the design, manufacture and supply of kettle safety controls and other complementary water temperature management components has provided an update ahead of its Annual General Meeting at 9 a.m. today.

At the meeting, Mark Bartlett, Chief Executive Officer of Strix, will make the following statement:

“We confirm that based on year to date performance, our current expectations of trading conditions in the balance of the year, the resilience of our historical H2 performance through prior macroeconomic cycles and our experience during the COVID-19 pandemic, we are maintaining expectations for the full year.

Since the announcement of our full year results, the global outlook has weakened and headwinds  persist which imply that we will continue to face a challenging operating environment. However, we are pleased to have successfully implemented further product price increases across our full kettle controls range and water categories (the most recent was with effect from 1st May). This alongside a range of continued strategic efficiency measures, including the adoption of lean and automated processes at the new manufacturing operations, foreign exchange rate and commodity hedging arrangements has continued to minimise the impact of ongoing cost inflation.

We continue to monitor the evolving situation in China and, to date, our manufacturing operations within Zengcheng district in Guangzhou have not been materially affected. We continue to take a proactive approach to minimise potential supply chain disruption by increasing levels of finished stock and holding stock in multiple districts.

Overall, Strix has a robust business model, remains in a strong financial position and through adopting a disciplined and dynamic approach to our strategy has delivered a resilient performance during prior macroeconomic cycles and during the COVID-19 pandemic. We remain confident in our ability to navigate current uncertainties and deliver on the current expectations for the full year and against our medium-term targets.”

Strix Group, is a global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration.

Strix’s core product range comprises a variety of safety controls for small domestic appliances, primarily kettles. Kettle safety controls require precision engineering and intricate knowledge of material properties in order to repeatedly function correctly. Strix has built up market leading capability and know-how in this field since being founded in 1982.

Click to view all articles for the EPIC:
Or click to view the full company profile:
    Share on facebook
    Facebook
    Share on twitter
    Twitter
    Share on linkedin
    LinkedIn
    STRIX GROUP PLC ORD 1P

    More articles like this

    STRIX GROUP PLC ORD 1P

    Strix Group to host investor site visits in July

    Strix Group Plc (LON:KETL), the AIM quoted global leader in the design, manufacture and supply of kettle safety controls and other complementary water temperature management components, has announced a reconfirmation of its final dividend and also details of upcoming

    STRIX GROUP PLC ORD 1P

    Strix diversifying away from core Kettle Controls business

    Strix Group Plc (LON:KETL) have today published preliminary results for the twelve months ended 31 December 2022. Financial Summary1 2022 2021 Change (22 – 21) £m £m %4 Revenue 106.9 119.4 -10.5% Gross profit 41.5 47.4 -12.4% EBITDA2 32.1

    STRIX GROUP PLC ORD 1P

    Strix Group live Equity Development investor presentation

    Strix Group plc (LON:KETL), the global leader in the design, manufacture and supply of kettle safety controls and other complementary water temperature management components, has today announced that the Company’s management team will conduct a live investor presentation covering their Preliminary

    STRIX GROUP PLC ORD 1P

    Strix Group complete acquisition of Billi

    Strix Group Plc (LON:KETL), the AIM quoted global leader in the design, manufacture and supply of kettle safety controls and other complementary water temperature management components, has announced, further to its announcement on 5 October 2022, that it has today

    STRIX GROUP PLC ORD 1P

    Strix Group conditional acquisition of Billi for c.£38 million

    Strix Group Plc (LON:KETL), the AIM quoted global leader in the design, manufacture and supply of kettle safety controls and other complementary water temperature management components, has announced that it has entered into conditional agreements to acquire the entire

    STRIX GROUP PLC ORD 1P

    Strix Group live presentation covering their Interim results

    Strix Group plc (LON:KETL), the global leader in the design, manufacture and supply of kettle safety controls and other complementary water temperature management components, has announced that the Company’s management team will conduct a live presentation covering their Interim

    STRIX GROUP PLC ORD 1P

    Strix Group remains in a strong financial position

    Strix Group Plc (LON:KETL), the global leader in the design, manufacture and supply of kettle safety controls and other complementary water temperature management components, has announced a pre-close trading update for the six month period ended 30 June

    STRIX GROUP PLC ORD 1P

    Strix Group hosting analyst and investor site visit today

    Strix Group Plc (LON:KETL), the global leader in the design, manufacture and supply of kettle safety controls and other complementary water temperature management components, will host an analyst and investor site visit today at its LAICA business in Vicenza,

    No more posts to show