6th Jul 2020 16:50
UP Global Sourcing Holdings PLC - developer of consumer goods brands based in Oldham - Says that since June, the invoicing and delivery of its order book has continued to progress at a good pace driven by a strong performance in its Online division. Says it expects results for financial 2020 ending July 31 to be above current market expectations with revenue of over GBP111.0 million, underlying earnings before interest, taxes, depreciation, and amortization above GBP9.6 million, and underlying pretax profit above GBP7.4 million.
For comparison, in financial 2019, the company recorded revenue of GBP123.3 million, underlying Ebitda of GBP9.9 million, and underlying pretax profit of GBP8.5 million.
"We are pleased to be making better-than-expected progress against a backdrop that remains hugely uncertain and challenging. The investment that we have made in our online segment in recent years is delivering particularly good results, and our adaptive, resilient and flexible business model is standing us in good stead," said Chief Executive Simon Showman.
Current stock price: 77.20 pence
Year-to-date change: down 19%
By Ife Taiwo; [email protected]
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