Strix Group PLC Trading Update (4623C)
22 Januar 2018 - 8:00AM
UK Regulatory
TIDMKETL
RNS Number : 4623C
Strix Group PLC
22 January 2018
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
22 January 2018
Strix Group Plc
("Strix" or the "Group")
Pre Close Trading Update
Strix Group Plc (AIM: KETL), the AIM listed global leader in the
design, manufacture and supply of kettle safety controls and other
complementary water temperature management components, is pleased
to announce the following trading update for the year ended 31
December 2017.
The Group continued to perform well during 2017 and the Board
confirms that it expects to report results in line with market
expectations for the financial year. Due to the positive cash
generation in the year, the Board also expects to report a
significantly improved net debt position.
During the year the Group maintained its clear market leading
position with a global volume share of approximately 39 per cent.
Strix launched the full U9 series of controls which further
enhanced its product portfolio with a best in class product that is
suitable for multiple markets around the world.
The Group also made significant progress with its automation
strategy with the fully automated production line for the U9 series
being successfully commissioned and operating in line with
management's expectations.
The Group will be announcing Final results on Thursday 22nd
March 2018. An analyst briefing will be held at 09.30hrs. Analysts
interested in attending should contact
heather.armstrong@investor-focus.co.uk .
Mark Bartlett, Chief Executive Officer, said:
"Strix has continued to achieve its objectives following its
successful Admission to AIM and expects to deliver results in line
with market expectations, with a particularly strong cashflow
performance which supports our dividend policy.
"Our global partnerships remain solid and we have maintained our
strong global market position whilst providing focus on safety
actions and value added services throughout the sales channel.
"Market conditions remain competitive, however we look forward
to the year ahead with confidence and are well positioned to
achieve our objectives.
For further enquiries, please contact:
Strix Group Plc
Mark Bartlett (CEO) 01624 829
Raudres Wong (CFO) 829
Zeus Capital Limited (Nominated
Advisor)
Nick Cowles / Jamie Peel / Jordan
Warburton (Corporate Finance)
Dominic King (Corporate Broking) 020 3829 5000
IFC Advisory Limited (Financial
PR & IR)
Graham Herring / Tim Metcalfe /
Heather Armstrong 020 3934 6630
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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