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

Manufacturing output weakest in eight months as interest...

August 18, 2023

Government pledges £100M for taskforce to help UK...

April 24, 2023

Hybrid working demand sends IWG revenues to record...

March 6, 2024

Huw Edwards faces potential loss of Baftas as...

August 5, 2024

Private schools to charge VAT from January as...

July 30, 2024

Aston Martin Secures Long-Term Pay Deal Benefitting 2,500...

June 10, 2024

WorkL Secures £2M Series A Funding from Calculus...

June 14, 2024

Bullish bosses rate UK in top three markets...

January 17, 2023

The Future of AI Translation: Why User-Driven Customization...

February 17, 2025

Economists warn Chancellor may face emergency spring budget...

December 17, 2024

    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 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
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • 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