7th Jan 2019 09:00
LONDON (Alliance News) - UP Global Sourcing Holdings PLC shares spiked Monday after the consumer goods product design and distribution company said its financial 2019 earnings will be ahead of market expectations.
Shares in UP Global were up 14% in morning trading at 45.00 pence each.
UP Global said the positive momentum from its first half has continued with "stronger than expected" revenue growth across its four main businesses - discounters, UK supermarkets, online platforms and international customers.
As a result, its earnings before interest, tax, depreciation and amortisation - excluding the higher overhead costs arising from higher revenue - for the year ending July will be above current market expectations.
In financial 2018, UP Global reported pretax profit of GBP5.4 million on revenue of GBP87.6 million.
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