Ultimate Products PLC
LSE:ULTP
Ultimate Products PLC
UP Global Sourcing Holdings Plc engages in the supply and distribution of consumer products. The company is headquartered in Oldham, Greater Manchester and currently employs 399 full-time employees. The company went IPO on 2017-03-01. Its Cookshop division offers contemporary kitchen essentials. Its Audio division is engaged in designing, developing and marketing easy-to-use audio technology. Its Laundry division offers time-saving products, which provide a lasting solution to maintaining a clean and tidy home. Its Electrical SDA division’s products range of domestic appliances to modernise the homes. Its Tabletop division is engaged in creating ranges of tabletop decor. Its Luggage division is engaged in creating and perfecting a collection of suitcases and cabin bags. Its Heating division offers heating appliances. Its Cooling division offers cooling products. Its brands include Intempo, Zframe, Beldray, Salter, Portobello by Inspire, Constellation, Progress, Giles & Posner, Petra, Russell Hobbs, and American Originals.
UP Global Sourcing Holdings Plc engages in the supply and distribution of consumer products. The company is headquartered in Oldham, Greater Manchester and currently employs 399 full-time employees. The company went IPO on 2017-03-01. Its Cookshop division offers contemporary kitchen essentials. Its Audio division is engaged in designing, developing and marketing easy-to-use audio technology. Its Laundry division offers time-saving products, which provide a lasting solution to maintaining a clean and tidy home. Its Electrical SDA division’s products range of domestic appliances to modernise the homes. Its Tabletop division is engaged in creating ranges of tabletop decor. Its Luggage division is engaged in creating and perfecting a collection of suitcases and cabin bags. Its Heating division offers heating appliances. Its Cooling division offers cooling products. Its brands include Intempo, Zframe, Beldray, Salter, Portobello by Inspire, Constellation, Progress, Giles & Posner, Petra, Russell Hobbs, and American Originals.
Revenue Decline: Ultimate Products reported a 6% drop in overall revenue for H1, driven by lower UK consumer spending and a decline from last year’s air fryer boom.
European Growth: Sales in Europe are up, with international (mainly EU) revenue rising 12% and strong performance from discounters seen as a key growth avenue.
Profit Impact: EBITDA fell by £7 million, affected by lower sales and a £2 million temporary hit from higher shipping costs due to the Red Sea crisis.
Cost Pressures: The company faces ongoing cost inflation, wage increases, and new packaging taxes, but continues to offset these with automation and headcount reductions.
Brand & Strategy: Investment in brands, especially Salter and Beldray, remains central. Recent rebrands and a marketing push on Amazon are boosting awareness, especially in Europe.
Positive Outlook: Management expects improved performance in H2, aided by shipping cost normalization and strong order flow, and confirmed that full-year adjusted EBITDA should be in line with current expectations.
