RNS Number : 4623C Strix Group PLC
22 January 2018
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
22 January 2018
Strix Group Plc
("Strix" or the "Group")
Pre Close Trading Update
Strix Group Plc (AIM: KETL), the AIM listed global leader in the design, manufacture and supply of ke+le safety controls and other complementary water temperature management components, is pleased to announce the following trading update for the year ended 31 December 2017.
The Group con1nued to perform well during 2017 and the Board confirms that it expects to report results in line with market expecta1ons for the financial year. Due to the posi1ve cash genera1on in the year, the Board also expects to report a significantly improved net debt position.
During the year the Group maintained its clear market leading posi1on with a global volume share of approximately 39 per cent. Strix launched the full U9 series of controls which further enhanced its product por7olio with a best in class product that is suitable for multiple markets around the world.
The Group also made significant progress with its automa1on strategy with the fully automated produc1on line for the U9 series being successfully commissioned and operating in line with management's expectations.
The Group will be announcing Final results on Thursday 22nd March 2018. An analyst briefing will be held at 09.30hrs. Analysts interested in attending should contactheather.armstrong@investor-focus.co.uk .
Mark Bartlett, Chief Executive Officer, said:
"Strix has con0nued to achieve its objec0ves following its successful Admission to AIM and expects to deliver results in line with market expectations, with a particularly strong cashflow performance which supports our dividend policy.
"Our global partnerships remain solid and we have maintained our strong global market posi0on whilst providing focus on safety actions and value added services throughout the sales channel.
"Market condi0ons remain compe00ve, however we look forward to the year ahead with confidence and are well positioned to achieve our objectives.
For further enquiries, please contact:
Strix Group Plc
01624 829 829
Mark Bartlett (CEO)
Raudres Wong (CFO)
Zeus Capital Limited (Nominated Advisor)
020 3829 5000
Nick Cowles / Jamie Peel / Jordan Warburton (Corporate Finance)
Dominic King (Corporate Broking)
IFC Advisory Limited (Financial PR & IR)
020 3934 6630
Graham Herring / Tim Metcalfe / Heather Armstrong
About Strix Group plc
Isle of Man based Strix, is a global leader in the design, manufacture and supply of ke+le safety controls and other components and devices involving water heating and temperature control, steam management and water filtration.
Strix's core product range comprises a variety of safety controls for small domes1c appliances, primarily ke+les. Ke+le safety controls require precision engineering and intricate knowledge of material proper1es in order to repeatedly func1on correctly. Strix has built up market leading capability and know-how in this field since being founded in 1982.
This information is provided by RNS
The company news service from the London Stock Exchange
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Strix Group plc published this content on 22 January 2018 and is solely responsible for the information contained herein.
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