Ultimate Products PLC
LLSE:ULTP46.10
GBX
-1.50
(-3.15%)
ISIN
GB00BYX7MG58
Return %
Stock
S&P 500
1Y
-25.40
14.20
3Y
-60.34
81.12
5Y
-72.76
68.34
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
GBP
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in mil. unless spec.Semi-annual Revenue
GBP
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in mil. unless spec.Semi-annual Earnings Per Share
GBP
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in mil. unless spec.Semi-annual Dividends Per Share
GBP
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in mil. unless spec.Company Description
- CEO
- Andrew Gossage
- Full Time Employees
- 343
- Sector
- Distribution services
- Industry
- Wholesale distributors
- Address
- Manor Mill Oldham GM United Kingdom OL9 0DD
- IPO Date
- Mar 1, 2017
- Website
- upplc.com
- Similar Companies
- Business
- Ultimate Products Plc (ULTP.L) designs, develops, sources and distributes branded household consumer products to retailers worldwide. Founded in 1997 and headquartered at Manor Mill, Victoria Street, Chadderton, Oldham, Greater Manchester, OL9 0DD, United Kingdom, the company specializes in five core product categories: small domestic appliances including air fryers; housewares such as cookware and bakeware; laundry and floorcare items; audio products; and heating and cooling appliances; complemented by clearance and own-label offerings. It owns leading heritage brands including Salter (established 1760, focused on scales and kitchen products), Beldray (established 1872, covering laundry, floorcare and heating), Progress (cookware and bakeware), Kleeneze (laundry and floorcare), Petra, Intempo (audio), Dreamtime (bedding), Prolectrix (floorcare and healthy living appliances) and ZFrame; it also licenses non-electrical Russell Hobbs products on a rolling four-year basis and supplies own-label and third-party clearance goods. Ultimate Products sells to over 300 retailers across 45 countries, with primary operations in the United Kingdom (65% of FY24 revenue), Europe (34%, including strong growth in France and Germany) and the rest of the world; key channels encompass supermarkets, discounters, online platforms and multiple-store retailers. In recent developments, the company opened a new European showroom in Paris in September 2023 to accelerate "land-and-expand" growth among French and pan-European retailers, driving 78% sales increase in France to £12m (8% of FY24 revenue) and 7% overall European growth to £53m despite German supermarket overstocking; it completed a full rebrand of Salter to strengthen brand equity and consistency while initiating a bold repositioning of Beldray with consumer launch planned for March 2025 in partnership with a UK supermarket; management reshaped significantly with Christine Adshead appointed Non-executive Chair, Andrew Gossage as Chief Executive Officer, Simon Showman transitioning to Chief Commercial Officer, and new Non-executive Directors Andrew Milne and José Carlos González-Hurtado; the Board approved a Capital Allocation Framework targeting net bank debt/adjusted EBITDA of 1.0x to support dividends (maintained at 7.38p for FY24), share buybacks (reducing issued shares to 87.6m by early 2025) and growth investments; productivity advanced via automation of hundreds of tasks, AI initiatives, robotic processes and new Product Information Management software, boosting gross profit per employee 4.4% despite 6.5% revenue decline to £155.5m and adjusted EBITDA of £18m in FY24; H1 FY25 revenue fell 6% to £79.5m amid UK weakness and air fryer normalization but showed improving trends, 12% international growth led by 39% in EU discounters, and focus on FY25 sales recovery in H2 with flat topline expected.