With positive sales growth, even faster EBITDA expansion and a sustained 38% world leading market share in kettle safety controls, Strix’s interim results leave the company well-placed to match full year expectations. Moreover, the US performance complemented a recent announcement regarding coffee in that market. Strix proposes a 2.3p interim dividend confirms both an intended 7.0p full year outcome and 7.7p in FY2019.
Strix announced interim results. Net revenue advanced by 1.5% to £42.9m and adjusted EBITDA by a faster 4.3% as gross and EBITDA margins both expanded: to 37.9% (37.2%) and 34.5% (33.6%) respectively. Pre-tax profit to fall by 1.9% to £11.0m but the cash position remains strong. Net debt fell by £8.0m to £37.9m as net cash from operations was positive by £15.2m: a 97% conversion rate.
Strix Group plc (LON:KETL) 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.