UK's UP Global Sourcing Holdings gains on record annual profit

Ultimate Products

15/08/2023 08:48

** Shares of UP Global Sourcing Holdings Plc  UPGS.L  rise
as much as 6.6% to 132.5p; stock among top pct gainers on FTSE
Small Cap  .FTSC  index
    ** The UK-based owner of homeware brands posts an 8% growth
in FY adjusted core profit to a record 20.2 mln pounds ($25.6
mln); revenue rises 8% to a record 166.3 mln pounds
    ** Revenue surges 64% in its online division
    ** Co says trading for FY24 in line with market expectations
    ** Stock currently up 2.2%, trimming YTD losses to ~22%

($1 = 0.7878 pounds)

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))