Ultimate Products is behind a number of consumer goods brands
(Picture: Ultimate Products)The consumer goods business behind household staples from Salter scales to Kleeneze mops has warned that it expects disruption to global shipping to last beyond next February.
Ultimate Products said: “Shipping availability continues to present challenges with forward orders from the group’s retail customers being prioritised ahead of stock purchases.”
The company added: “Management expects that global shipping will remain disrupted until after Chinese New Year.”
Alex Veitch, trade body Logistics UK’s general manager of public policy, said: “Shippers around the world have been affected by a number of factors, most notably the impact of Covid-19 which has led to port closures, the subsequent displacement of containers, rising costs and difficulties securing capacity.”
There was heightened demand for space on ships in some cases, as online orders soared for a number of retailers during the pandemic.
Ultimate Products is headquartered in the UK, but sources products from 15 countries, with over 85% coming from China, according to its most recent annual report.
The firm gave the update alongside reporting 17.9% revenue growth to £136.4 million in the year to July.
Unaudited underlying pre-tax profit increased by 36.6% to £11.2 million.
