Ultimate Products, the consumer products group which sells brands including Russell Hobbs and Beldray, has reported a rise in revenue in its pre-close trading update.
The Oldham firm, based out of Manor Mill, saw unaudited group revenue increase 40.8 per cent to £123.3m to the year ended July 31, up from £87.6m the year previous.
The firm said the revenue rise reflected “good growth” across UK and European discounters, UK supermarkets, online platforms and international customers, with international business accounting for 39.4 per cent of the group’s revenue.
The online business across both UK and international accounted for 9.2 per cent of the group’s revenue, where it accounted for 7.9 per cent in 2018.
The firm intends to announce its full-year financial results on November 5.
Unaudited underlying EBITDA was also up 53.4 per cent to £9.9m, from £6.5m in 2018.
The group said it maintains “comfortable” levels of headroom within its bank facilities, with headroom at July 31 of £10.1m, up from £9.1m.
Ultimate Products said it is trading in line with market expectations, with the financial year 2020 order book “moderately ahead” of the same period last year.
“Over the longer term, the board is confident in the resilience of the group’s business model, and in particular the adaptability and versatility of its strategy,” the firm added.
