Updates

Strix

May 2018

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Maiden results from Strix show it was insulated from the downdraught that hit consumer goods suppliers as retailers destocked just before the year end. But then this phenomenon could just be a lag effect because it doesn’t supply its kettle safety controls to retailers but the manufacturers and it may take time for this to feed through. However, in its defence, Strix sells worldwide not just the UK.As it was, sales were up 3% to £91.3m and pretax profit (after allowing for only five months of its new capital structure post the IPO when it retired some expensive debt) came in at £28.3m, +5.6%. Adjusted eps were 14.5p. Net debt was £45.8m (1.3x ebitda).Strix continues to hold a strong global market share ...

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