Since starting this thread Jack Brumby wrote a very comprehensive review that can be read here:

https://www.stockopedia.com/co...

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On 24/3/21 Strix published their results for the year to 31/12/20 here: https://www.londonstockexchang...

The following day they held a results webinar organised by Equity Development. I now see that they will be repeating the presentation on the Investor Meet Company platform next Thursday, April 1st, at 2 p.m.

******* GOOD NEWS *******

You don't have to wait for next week's presentation - a recording of the ED one, including Q&A can now be seen by clicking here.

Have just looked for the slides but not yet on their website.

The Equity Development research note, including forecasts for the next 3 years can be read by clicking here.


Here are a couple of points I noted from the presentation.

1) They are aware of the impact on working capital made by the Laica acquisition. A new FD has been appointed and his first job is, working with others, to improve cash flow.

2) their projections for the next few years target growth as follows:

Kettles - market growing 3% p.a and their share to grow 3% p.a.

Water - 27% CAGR

Small domestic appliances 25.5% CAGR

3) they strongly emphasise how much Laica will bring to the group.

4) induction kettle has great potential

5) they are very excited about the new factory in China and what it will bring. A short film of it was shown.



Q&A

Why so much emphasis on producing in China? - simply because 95% of the world's kettles are manufactured in China.

Worried about Chinese disregarding patents? They have had a very long relationship with Beijing who have given them strong support when needed on IP protection.

What happens when patents expire? They are always adding new ones such as the U9 which gives them the edge. They have a reputation in the market for being aggressive with IP protection (sounded like 'nobody messes with us!'). Even when expired - gave example of the ancient type of kettle where the heater was a butterfly shape coil at the bottom of the water - patent expired but took a Dutch firm to court for design copyright - settled out of court.

My question (prompted by wildshot) :…

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