Updates

UP Global Sourcing - Salter acquisition helps take margins to new record

May 2022

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.

The market reacted positively to H1 results to end January. These were strong with sales up 14% to £85.7m (+3% excluding a maiden contribution from Salter), pretax profit up 28% to £11.9m and eps up 18% to 8.7p. Managing director Andrew Gossage says that containers from China were a significant headwind, as prices escalated to US$18,000 vs US$1,500 back in 2020 but despite that, gross margin improved by 1.6% to 24.4% as the Salter brand eliminated royalty payments it previously paid. Consequently, UPGS achieved a higher EBITDA margin of 13.1%, +1.5%. Now that it has a better channel mix, it’s clearly a stronger business than at IPO when it was heavily reliant on discounters. Sales to supermarkets were +48% to £31m of sale ...

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Gear4Music

Billington

UP Global Sourcing - Massive deleverage of balance sheet (September 2023)

UP Global Sourcing (March 2023)

UP Global Sourcing - Shares rocket after results (December 2022)

UP Global Sourcing (September 2022)

UP Global Sourcing (July 2021)

UP Global Sourcing - Record operating margins hit in H1 (June 2021)

UP Global Sourcing (March 2021)

UP Global Sourcing (December 2020)

UP Global Sourcing - Forecasts upgraded again (August 2020)

UP Global Sourcing (July 2020)

UP Global Sourcing (June 2020)

UP Global Sourcing (April 2020)

UP Global Sourcing (March 2020)

UP Global Sourcing (December 2019)

UP Global Sourcing (October 2019)

UP Global Sourcing - Trading ahead of expectations (August 2019)

UPâ€ˆGlobal Sourcing (May 2019)

UP Global Sourcing - Third eps upgrade since November (March 2019)

UPâ€ˆGlobal Sourcing - New upgrade cycle (February 2019)

UP Global Sourcing - CEO in good cheer - does this indicate a resumption of home-related spending? (December 2018)

UP Global Sourcing (October 2018)

UP Global Sourcing (July 2018)

UP Global Sourcing - Germany trading ahead of expectations (June 2018)

UP Global Sourcing (March 2018)

UP Global Sourcing (October 2017)

UP Global Sourcing - Barnstorming sales +62% in H1 (August 2017)

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