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Ultimate Products upgrades guidance on bumper sales
StockMarketWire.com
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Consumer goods UP Global Sourcing, also known as Ultimate Products, forecast a rise in annual underlying profit after its first-half sales climbed 11%.
Underlying pre-tax profit for the year through July was anticipated to be more than £10.3 million, up from £8.2 million year-on-year.
Full-year revenue was expected to be ahead of current market forecasts, rising to more than £135 million, up from £115.7 million.
In the first half, revenue rose 11% to £75.4 million.
Ultimate products said it was currently seeing an increase in shipping rates, though that cost pressure wasn't high enough to fully offset the increase in revenue.
Sales to online and supermarket channels performed particularly well, it said.
Beldray, its brand for laundry, floor care, heating and cooling, continued to be the standout performer across its portfolio.
Story provided by StockMarketWire.com
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