Strix Group Plc (LON:KETL), the 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, has provided an update on trading for the financial year ended 31 December 2024.
Strix is pleased to confirm that it will report adjusted profit before tax for FY24 ahead of market consensus (as at close on 29 January 2025) and comfortably within the previously announced range of £18m to £19m (on a constant currency basis CER).
The Kettle Controls division has maintained its dominant market position and stable market share in the regulated and less regulated markets, despite trading volatility in Q4 2024 in its key regulated end consumer markets, such as the UK and Germany. New products launched in Q4 2024 have been well received and are gaining traction with customers, with the launch of the next generation of innovative controls on track to launch in H1 2025. New product development by the Kettle Controls division is focused on producing solutions that can be sold across additional market segments, while also increasing Strix’s addressable market.
