Updates

Strix

October 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.

As chief executive Mark Bartlett says, during economic downturns, the domestic appliance industry is typically impacted early but sees volumes pick up just as quickly. Mirroring these typical demand patterns seen during previous recessions, the latest interims show sales down 7% year-on-year to £50.7m and pretax profit down 12% to £11.6m. Gross profit declined 5% to £19.5m with Controls -10.6% to £15m. Impressively, overall gross margin increased by 1% to 38.4%. The volume of kettles sold fell 15% for the industry and Strix outperformed the market with an 11.7% drop in kettle control sales to £34.8m. Bartlett highlights that Strix has strong control over variable costs on the Controls side - in response to the volume decline, it ha ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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