Strix Group PLC is poised to deliver an adjusted pretax profit ahead of market consensus for 2024, reinforcing its strong financial position. Investors looking for stability and resilience in an uncertain market will find Strix’s performance particularly compelling, as the company continues to dominate its sector while prioritising financial discipline.
The Isle of Man-based supplier of kettle safety controls, water heating devices, steam management solutions, and water filtration systems has confirmed that its adjusted pretax profit for 2024 will comfortably fall within the previously announced range of £18 million to £19 million on a constant currency basis. This demonstrates the company’s ability to navigate market fluctuations while maintaining profitability.
Strix’s Kettle Controls division has sustained its leading market position, holding firm in both regulated and less regulated markets despite some trading volatility in the fourth quarter. This consistency highlights the company’s operational strength and market resilience. Meanwhile, the Consumer Goods division has performed slightly below the previous year, in line with expectations, ensuring a controlled and strategic approach to business development.
A key focus for Strix remains its net debt position. The management team continues to prioritise cash conservation, resulting in strong cash generation throughout the period. This disciplined financial approach has enabled the company to maintain a year-end net debt leverage of below two times, reinforcing its commitment to financial stability and long-term growth.
Strix Group plc (LON:KETL) is a global leader in the innovation, design, manufacture and supply of kettle safety controls, heating and temperature controls, steam management and water filtration technologies.
