Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Brits Cut Back on Airfryer Purchases Leading to Decline in Sales at Ultimate Products

by February 13, 2024
February 13, 2024
Brits Cut Back on Airfryer Purchases Leading to Decline in Sales at Ultimate Products

Ultimate Products, a consumer goods conglomerate, has disclosed a decline in airfryer purchases among Brits, resulting in a four per cent decrease in revenues during the latter half of the year.

The company, which boasts ownership of Salter, Britain’s oldest houseware brand established in 1760, reported a revenue drop from £87.6m in the first half of 2023 to £84m. This dip, it explained, is primarily attributed to reduced sales of airfryers, renowned for their ability to swiftly crisp up various foods.

Based in Greater Manchester, Ultimate Products highlighted that this decline was partially offset by reduced shipping costs and enhanced productivity facilitated by increased automation, thereby boosting operating margins.

In its trading update on Tuesday, Ultimate Products stated, “shipping schedules are expected to stabilise in the second half of 2024, and peak air-fryer sales will move out of the prior year comparatives.”

The company anticipates achieving a full-year profit performance in line with current market expectations, encompassing adjusted pre-tax earnings of £21.6m and adjusted earnings per share of 15.6p.

Andrew Gossage, CEO of Ultimate Products, remarked, “The overstocking issues that have hindered ordering at many of our retail partners, particularly European supermarkets, continue to diminish.”

He added, “Given the robust underlying demand for our products and brands, customers who had paused their ordering are once again willing to make purchases.”

The company reaffirmed confidence in its future prospects, as evidenced by the implementation of its new Capital Allocation Policy.

Shares in the London-listed company have experienced a decline of nearly 12 per cent over the past year.

Ultimate Products, known for marketing Russell Hobbs cookware and laundry products under licence, in addition to owning the Beldray brands, made its debut on the London Stock Exchange through an IPO valued at over £100m in 2017.

Read more:
Brits Cut Back on Airfryer Purchases Leading to Decline in Sales at Ultimate Products

0
FacebookTwitterGoogle +Pinterest
previous post
Aston Martin in discussions with bankers over debt burden ahead of repayment deadlines
next post
How To Put The Data Your Company Collects To Work

You may also like

Jacob Rees-Mogg meets energy giants in bid to...

August 30, 2022

Treasury makes £2bn from Help to Buy scheme

March 30, 2023

Tax hikes blamed for slide in business confidence...

January 6, 2025

Apple to put USB-C connectors in iPhones to...

October 27, 2022

How Digital Signage Simplifies Event Promotions for Businesses

November 25, 2024

BT scraps above-inflation price rises for mobile and...

January 17, 2024

Unlocking Liquidity in a Flatlined Art Market— How...

March 3, 2025

UK government announces £100m to support AI regulation

February 7, 2024

10,000 Meta jobs to be axed amid ‘Year...

March 15, 2023

Twitter to let publishers charge users per article...

May 1, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump ally stands firm against ‘big, beautiful bill’ despite pressure: ‘It’ll completely backfire’

      June 8, 2025
    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,571)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved