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Strix Group ( (GB:KETL) ) just unveiled an update.
Strix Group has announced that its adjusted profit before tax for the financial year 2024 will exceed market expectations, maintaining a strong position in the kettle controls market despite volatility in key regions like the UK and Germany. The company has introduced new products that are gaining customer traction and is on track to launch innovative controls in 2025. The Billi division has returned to double-digit growth, with successful product launches in Australia and plans for expansion in the UK and Europe. The Consumer Goods division, although slightly below last year, is progressing well with new retail contracts and manufacturing initiatives. Strix continues to implement structural improvements for long-term growth, focusing on cash conservation and maintaining a net debt leverage below 2x.
More about Strix Group
Founded in 1982, Isle of Man-based Strix Group is a global leader in the design, manufacture, and supply of kettle safety controls and other components related to water heating, temperature control, steam management, and water filtration. The company offers a core product range that includes safety controls for small domestic appliances, primarily kettles, and has expanded into complementary products and technologies under brands such as Aqua Optima, LAICA, and Billi. Strix is listed on the AIM Market of the London Stock Exchange.
YTD Price Performance: -4.56%
Average Trading Volume: 497,614
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £105.7M
For a thorough assessment of KETL stock, go to TipRanks’ Stock Analysis page.
