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UP Global Sourcing Holdings ( (GB:ULTP) ) has issued an announcement.
Ultimate Products has announced updates to its ongoing share buyback programme, which aims to maintain a net bank debt/adjusted EBITDA ratio of 1.0x. The company plans to continue with its rolling share buybacks, with the next tranche commencing from February 2025, involving a maximum consideration of £2 million over six months. This strategic move is part of a broader capital allocation policy designed to allow for growth investments while returning significant post-tax profits to shareholders through dividends and share buybacks. By transferring the buyback programme instruction to Shore Capital, Ultimate Products ensures an efficient leverage of its balance sheet, which is expected to enhance shareholder value and potentially improve market positioning.
More about UP Global Sourcing Holdings
Ultimate Products is a company that owns leading homeware brands such as Salter and Beldray, specializing in small domestic appliances, housewares, and more. Their products, sold across 38 countries, reach a diverse range of retailers, including large multi-channel and smaller national retail chains. Founded in 1997 and headquartered in Oldham, Greater Manchester, the company employs over 370 staff and operates offices in Guangzhou, China and Paris, France.
YTD Price Performance: -12.98%
Average Trading Volume: 125,088
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £85.93M
For detailed information about ULTP stock, go to TipRanks’ Stock Analysis page.
