Strix Group PLC Trading Update (9567U)
18 Juli 2018 - 8:00AM
UK Regulatory
TIDMKETL
RNS Number : 9567U
Strix Group PLC
18 July 2018
18 July 2018
Strix Group Plc
("Strix" or the "Group")
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 6 month period
ended 30 June 2018.
The Group continued to perform well during H1 2018 and the Board
confirms that the Company is on track to report results in line
with market expectations for the full year. Cash flow conversion
remains strong, continuing to support our dividend policy.
During the period, the Group maintained its global market
leading share of c.38% with particularly strong performance in
North America. The new U9 series of controls has performed
positively with more than 60 specifications, securing order volumes
of c.1m during the period with more than 20% destined for the less
regulated market as we target further share growth within this
segment.
Focus continued on the development of new products within the
hot water on demand category using our mature, patented heating
technology to fulfil key consumer insights identified from
independent research.
Aqua Optima experienced a strong performance with market share
in the key UK market achieving c.20%, a record level, due to
increased coverage in the UK retail sector and additional
distribution in Central Europe.
The Group continued to defend its intellectual property rights
and successfully settled an infringement claim in China for 19
electronic appliances during the period and had five webpages taken
down on Amazon across their European platform for products that
infringed Strix electronic kettle patent.
The Group will be announcing full interim results for the 6
month period ending 30 June 2018 on Wednesday 19 September 2018. An
analyst briefing will be held at 09.30hrs. Analysts interested in
attending should contact
heather.armstrong@investor-focus.co.uk.
For further enquiries, please contact:
Strix Group Plc
Mark Bartlett (CEO)
Raudres Wong (CFO) 01624 829 829
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.
Strix is listed on the Alternative Investment Market of the
London Stock Exchange (AIM: KETL).
www.strixplc.com
Market Abuse Regulation
This announcement is released by Strix Group Plc and contains
inside information for the purposes of the Market Abuse Regulation
(EU) 596/2014 ("MAR") and is disclosed in accordance with the
Company's obligations under Article 17 of MAR. The person who
arranged for the release of this announcement on behalf of Strix
Group Plc was Mark Bartlett, CEO.
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 or visit www.rns.com.
END
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