17th Jul 2019 13:02
(Alliance News) - Shares in UP Global Sourcing Holdings PLC were sharply higher Wednesday after the firm reported it has seen better than expected revenue since the end of April.
UP Global was trading 16% higher in London in afternoon trading at 83.74 pence each.
UP Global owns, manages, designs, and develops consumer goods brands. Brands include Kleeneze cleaning products, Portobello kitchenware, and Russell Hobbs cooking products.
UP Global said its four "strategic pillars" - discounters, supermarkets, online platforms and international customers - have seen "strong" trading since the end of the company's first half on April 29.
The company now expects its financial 2019, ending July 31, revenue to be between GBP121.5 million and GBP122.0 million. UP Global also said its underlying pretax profit will be above the current market expectations.
UP Global reported underlying pretax profit of GBP5.6 million in financial 2018 on revenue of GBP87.6 million.
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