REG - Ultimate Products - Q3 2026 Trading Update

Ultimate ProductsAnnouncement

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RNS Number : 9478F  Ultimate Products PLC  28 May 2026

28 May 2026

 

Ultimate Products plc

("Ultimate Products", the "Company" or the "Group")

 

Q3 2026 TRADING UPDATE

Continued focus on operational productivity to support future growth

 

Ultimate Products, the owner of leading homeware brands including Salter (the
UK's oldest houseware brand, est.1760) and Beldray (est.1872), announces its
trading update for the three months ended 30 April 2026 ("Q3 2026").

 

Unaudited Group revenues during Q3 were £34.8m, in line with the prior year
(£34.8m), reflecting continued subdued consumer demand for general
merchandise and the planned reduction in non-core third-party clearance sales.
Sales of UP proprietary brands rose 9% in the period to £31.5m, with overall
branded sales up 3%, reflecting the Group's continued strategic focus on
growing proprietary brand sales.

 

Current trading and outlook

Notwithstanding the subdued macroeconomic backdrop and the unpredictable
geopolitical environment, the Board currently expects the flat trading trends
seen in Q3 to continue throughout the balance of the year. This means that,
while the general merchandise market remains soft, particularly in the UK,
Group sales are expected to be marginally ahead of market expectations, with
profitability remaining in line with consensus, reflecting the change in sales
mix. The Board is confident that the ongoing investment in the Group's
operational capabilities, together with the forthcoming arrival of Simon
Harrison as CEO, will enable it to maximise future growth opportunities.

 

Commenting on the performance, Andrew Gossage, Chief Executive of Ultimate
Products, said:

"Against what remains a challenging backdrop, we are pleased that overall
revenues were stable in the quarter, which was slightly ahead of our
expectations. Our focus continues to be on our self-help strategy to optimise
the business for future growth. I am confident that our refreshed and
invigorated commercial function is well placed to grow market share, and that
our continued focus on operational productivity in all areas of the business
will underpin our future success."

 

Consensus market expectations immediately prior to this announcement

 

                  FY25 (Actual)  FY26 (Consensus)  FY27 (Consensus)
 Revenue          £150.1m        £141.0m           £144.9m
 Adjusted EBITDA  £12.5m         £9.9m             £11.4m
 Adjusted EPS     7.4p           5.2p              7.1p

 

*Adjusted measures are before share-based payment expenses and non-recurring
items

 

For more information, please contact:

 

Ultimate Products +44 (0) 161 627 1400

Andrew Gossage, CEO

Chris Dent, CFO

 

Cavendish Capital Markets Limited (Nomad and Joint Broker) + 44 (0)20 7220
0500

Matt Goode/ Callum Davidson/ Trisyia Jamaludin (Corporate Finance)

Matt Lewis (Corporate Broking)

 

Shore Capital (Joint Broker) +44 (0) 20 7408 4090

Malachy McEntyre/ Isobel Jones (Corporate Broking)

Mark Percy / David Coaten / Harry Davies-Ball (Corporate Advisory)

 

Sodali & Co +44 (0) 207 250 1446

Rob Greening/ Sam Austrums/ Oliver Banks

 

Notes to Editors

Ultimate Products is the owner of leading homeware brands including Salter and
Beldray. According to its market research, nearly 80% of UK households own at
least one of the Group's products.

 

The Group sells to over 300 retailers in over 30 countries - spanning
discounters, supermarkets and general retailers, and ranging from large
national and international multi-channel retailers to smaller retail chains.
Its products are also available on salter.com
(https://protect.checkpoint.com/v2/r02/___https:/salter.com/___.YXAxZTpzaG9yZWNhcDpjOm86NTQ0YzUzMzVmNjcyNjczZDJkMGVkYmVjNjIwYzUxYzc6Nzo4M2NjOmMyN2RlYjJlOTk1NzYzMmQ5NTA0NzllYTBmMDYwOGI2ZTY5NjZkZjMzZmU4OTg5MmM4N2VkZDQyOTlkMWZiYzI6cDpGOk4)
 and beldray.com
(https://protect.checkpoint.com/v2/r02/___https:/beldray.com/___.YXAxZTpzaG9yZWNhcDpjOm86NTQ0YzUzMzVmNjcyNjczZDJkMGVkYmVjNjIwYzUxYzc6Nzo4ZmUxOjU1YzQyMjZmMDEwNGY4ZWJlNWU3N2RhOGFkNzI4YWNlMDJiN2MwMzkyOGViYzBlZDRiOWZkZDY3NWYzNzgzNTk6cDpGOk4)
, as well as major third-party online marketplaces. The Group specialises in
four product categories: Small Domestic Appliances; Housewares; Laundry; and
Audio. Other UP brands include Progress (bakeware, cookware and kitchen
electrical), Kleeneze (laundry and floorcare), Petra (small domestic
appliances), George Wilkinson (cookware and kitchen electrical) and Intempo
(audio).

 

Founded in 1997, Ultimate Products is headquartered in Oldham, Greater
Manchester, where it has design, sales, marketing, buying, quality assurance,
support functions and warehouse facilities across two sites. Manor Mill, the
Group's head office, includes a 20,000 sq ft showroom that showcases each of
its brands. In addition, the Group has an office and showroom in Guangzhou,
China and Paris, France. Ultimate Products employs over 300 staff and is
certified as a Great Place to Work®. A significant number of its employees
joined via the Group's Graduate Development Scheme, one of the biggest in the
North West.

 

Please note that Ultimate Products is not the owner of Russell Hobbs. The
Group currently has licence agreements in place granting it an exclusive
licence to use the "Russell Hobbs" trademark for cookware and laundry (NB this
does not include Russell Hobbs electrical appliances).

 

For further information, please visit https://upplc.com/
(https://protect.checkpoint.com/v2/r02/___https:/upplc.com/___.YXAxZTpzaG9yZWNhcDpjOm86NTQ0YzUzMzVmNjcyNjczZDJkMGVkYmVjNjIwYzUxYzc6NzozMTdjOmEyZDEyYzMzMTY0NzI0ZTYzYjE1NzFlOTg5ODIwZWVjMzVmOTYzMmIwYmYxOTg1NjdlMmYxOTRmMjMyODllMmU6cDpGOk4)
.

 

 

 

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