REG - Strix Group PLC - New products and sales developments update

StrixAnnouncement

07/03/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220307:nRSG7484Da&default-theme=true

RNS Number : 7484D  Strix Group PLC  07 March 2022

7 March 2022

 

Strix Group Plc

("Strix", the "Company" or the "Group")

 

New products and sales developments update

 

Strix Group Plc (AIM: KETL), the global leader in the design, manufacture and
supply of kettle safety controls and other complementary water temperature
management components, is pleased to announce a number of new product
developments representing significant progress towards achieving the Group's
five-year growth plan, at the core of which is improved sustainability.

 

Appliance Category

 

In October 2021 the Company announced the launches of Aurora and Dual Flo as
key extensions of Strix domestic appliance category, both with strong energy
saving and sustainability benefits. Strix's mission within the Appliance
category is to develop products that allow consumers to live a safer, more
convenient, and sustainable life at home.

 

Aurora is powered by Strix's Instant Flow Heater technology, delivering
auto-dispensed hot, boiled, and chilled filtered water at the touch of a
button. The Aurora Hot was launched in Q4 2021 and is now listed and selling
well on Amazon, while the Aurora Chilled is on track to be in the market in
the second quarter of 2022. Aurora products have numerous environmental and
energy saving advantages. The Aurora has recently been awarded the Quiet Mark
award which is an industry accreditation aimed at encouraging companies
worldwide to prioritise noise reduction within product design. Strix recently
organised a virtual press event for the Aurora product to demonstrate the new
Aurora product and the consumer insights behind it and raise retail awareness
of Strix's recent new product development activity.

 

Dual Flo, which combines Strix's technology with LAICA's classic Italian
design, is believed to be the UK's only combined kettle and one cup hot water
dispenser with an innovative, energy saving facility enabling 150ml to 1 litre
of boiling water to be dispensed efficiently. It is currently awaiting
delivery to the UK and is expected to be in stock in mid-March 2022 and will
also be listed on Amazon. Dual Flo provides energy saving advantages, as well
as strong patented technology providing the only one-cup kettle solution.

 

Water Category

 

Excellent recent progress has been made in Strix's water category in the
Asia-Pacific ("APAC"), Europe and the US.

 

In South-East Asia, Strix recently entered into a significant distribution
agreement with a global consumer electronics manufacturer, under which its
water filtration technology and products will be introduced to local Asian
markets later in Q1 2022.

 

In Europe, Strix has secured the supply of its water filtration technology and
products to one of Europe's largest consumer electronics retailers. Strix has
also appointed a new distributor for Denmark who will take a range of Aqua
Optima jugs and filters.

 

Additionally, new retail listings for the Aqua Optima range have also been won
across the UK and Ireland growing the brand's presence across the region with
more than 200 additional store listings across well-known high street and
independent retailers. Strix now also has a presence in the hardware and
garden centre market in the UK with listings of its Aqua Optima jugs and
filters.

 

In the US, the Company has recently appointed an additional distributor for
the North American region. The distributor has an excellent track record in
supplying major consumer electronics brands.

 

Mark Bartlett, Chief Executive Officer of Strix, said: "With sustainability at
the heart of our business, I am delighted to report on the significant
milestones achieved in recent months. These milestones keep us on track to
meet the key objectives set in our five year plan, as well as maintaining our
sustainability strategy and target to double the Group's sales over a five
year period."

 

 For further enquiries, please contact:

 Strix Group Plc                                                   +44 (0) 1624 829829

 Mark Bartlett, CEO

 Raudres Wong, CFO

 Zeus Capital Limited (Nominated Advisor and Joint Broker)         +44 (0) 20 3829 5000

 Nick Cowles / Jamie Peel / Jordan Warburton (Corporate Finance)

 Stifel Nicolaus Europe Limited (Joint Broker)                     +44 (0) 20 7710 7600

 Matthew Blawat / Francis North

 IFC Advisory Limited (Financial PR and IR)                        +44 (0) 20 3934 6630
 Graham Herring / Tim Metcalfe / Florence Chandler

 

ABOUT STRIX GROUP PLC

 

Isle of Man based Strix, is a global leader in the design, manufacture and
supply of kettle safety controls and other components and devices involving
water heating and temperature control, steam management and water filtration.

 

Strix's core product range comprises a variety of safety controls for small
domestic appliances, primarily kettles. Kettle safety controls require
precision engineering and intricate knowledge of material properties in order
to repeatedly function correctly. Strix has built up market leading capability
and know-how in this field since being founded in 1982.

 

Strix trades on the AIM Market of the London Stock Exchange (AIM: KETL).

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDZZGGFVDFGZZM