Updates

UP Global Sourcing

December 2019

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares jumped after UP Global Sourcing, which supplies branded consumer products in categories such as cookware, housewares, audio and laundry, announced strong results with its four strategic pillars firing on all cylinders. Revenues increased 41% to £123m while pretax profit grew 51% to £8.5m. Eps jumped 51% to 8.2p.Key to growth was its premier brands, which grew sales c.20% to almost £75m with strong performances from Beldray (ironing boards, home cleaning etc.), which rose 50% to £32.3m and Salter & Russell Hobbs (kitchenware, cookware), which grew a combined 52% to £30.3m.Within its strategic pillars, Discount Retailers increased 41% to £64.6m, driven by international growth, ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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