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Ultimate Products upgrades guidance amid strong online, laundry showing
StockMarketWire.com
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Consumer goods group UP Global Sourcing, also known as Ultimate Products, upgraded its earnings guidance, citing a strong performance from its online division and laundry brand.
Underlying earnings before interest, tax, depreciation and amortisation would be above the market's current expectations, the company said.
'Since the group announced its full year results on 3 November 2020, there has been continuing momentum in its order book,' UP said.
'Sales to online and supermarket channels have performed particularly well, which continues the trend from recent years for these channels to account for a growing share of group revenue.'
UP said its Beldray brand for laundry, floor care, heating and cooling, had continued to be a standout performer.
'A relentless focus on productivity enhancements and increased operating efficiencies has also led to an improvement in the group's operating margin,' the company said.
At 9:05am: (LON:UPGS) UP Global Sourcing Holdings Plc share price was 0p at 99.75p
Story provided by StockMarketWire.com
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