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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Ultimate Products Plc | ULTP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -3.00 | -2.44% | 120.00 | 16:35:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 121.00 | 118.50 | 121.00 | 120.00 | 123.00 |
| Industry Sector |
|---|
| ALTERNATIVE ENERGY |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 29/10/2024 | Final | GBP | 0.0393 | 02/01/2025 | 03/01/2025 | 31/01/2025 |
| 29/10/2024 | Special | GBP | 0.01 | 02/01/2025 | 03/01/2025 | 31/01/2025 |
| 09/04/2024 | Interim | GBP | 0.0245 | 30/05/2024 | 31/05/2024 | 28/06/2024 |
| 31/10/2023 | Final | GBP | 0.0495 | 28/12/2023 | 29/12/2023 | 26/01/2024 |
| 31/10/2023 | Final | GBP | 0.0495 | 28/12/2023 | 29/12/2023 | 26/01/2024 |
| Top Posts |
|---|
Posted at 12/11/2024 15:05 by epo001 Can Trump really be an issue here? There isn't much (any?) US trade for ULTP and US tariffs could result in price decreases across the rest of the world just to keep stuff moving. The yield is good and if they hold the divi then this has to be a buying opportunity. |
Posted at 13/6/2024 07:55 by edmonda Beldray re-brand – Ultimate Products has “got this!”New research note: Ultimate Products hosted a Capital Markets presentation at the Exclusively Housewares Exhibition in London on Tuesday this week, where the company showcased its re-brand for Beldray®, having engaged in a similar process for Salter at the same event in 2023. Regarding trading, despite some sales and profit disruption so far in FY2024, we continue to expect above trend organic growth in FY2025. We retain our 200p fair value for the shares. UP’s Brand Director Tracy Carroll presented key features of the Beldray (est 1872) re-brand. The overarching message was one of “collaboration As a company which owns increasingly powerful consumer brands, UP’s valuation relative to peers continues to look attractive. The company’s yield is above its peers and the prospect of ongoing share buybacks should also be supportive, in our view. We retain our view that fair value for the shares is 200p and base this on 1.2x EV/sales,10.2 EV/EBITDA and a 16.4x P/E. Moreover, the dividend yield at 3.1% would be superior to peers even with a 200p share price. |
Posted at 10/5/2024 16:03 by mpage The deterioration in just four weeks is concerning - if genuinely unexpected. To be even handed, Spring in the UK was very wet and sales volumes generally have been weak. However, given that just three people hold much of the equity, it does smack of a cunning plan - or at least an attempt to make lemonade when given lemons. We can be sure that today's announcement was definitely timed to coincide with the buyback, not least because they would have had to sounded out Equity Development to ensure there was a suitable slot available at short notice to calm the horses.Today's volume was around 2.146m shares trades, perhaps worth c. £3m. That's 3x the expected amount that ULTP expected to spend (per quarter) on the buybacks. The first £1m trance runs to 31 July which is the financial year end. Keep an eye on this management team. First buyback rns may well be out by Monday. |
Posted at 10/5/2024 12:46 by shanklin In operational terms, IMHO ULTP are very strong. They need to be given the curve balls that are a feature of their operating environment. |
Posted at 10/5/2024 12:24 by shanklin JonalsCompanies should be updating the market when they conclude that the forecasts in the market need revision. ULTP did this last July when their net debt expectations improved considerably from their previous expectations. I appreciate ULTP don’t usually provide a Q3 TS. But they have chosen to do so this year. It seems to me that they will probably have known Q3 was poor at the time of the H1 results (2 months and one week into Q3) but chose to keep them a secret. Today they have dumped them into the market, extrapolating Q4 to be similarly poor. No surprise perhaps that they are initiating their share buyback today, on the day when they have given their share price a good kicking. |
Posted at 10/5/2024 07:12 by shanklin The sales dip is unfortunate. But the H1 results were only announced 1 month ago, over 2 months into Q3 when ULTP must have already known Q3 trading was weak.So why didn't they address this then? Instead IMHO there's been a false market in their shares for the last month |
Posted at 10/4/2024 11:11 by mpage On buybacks. There are, of course, other reasons, the main one being to mop up the otherwise diluting effect of issuing new shares as part of the rejigged management incentive plan (p.53 of 2023 Annual Report).IF the total number of shares (following incentive payouts) can be reduced then less cash £££s are required to boost the dividend per share. In the past year Aviva has made a virtue out of this by promising to grow by mid single digits, the cash amount allocated to divs rather than the (weaker) promise to grow the dividend by mid-single digits. Aviva has become a much more focused business under Amanda Blanc. IF any of the posters in this thread work in Corporate Governance then it would be interesting to hear their views on the re-jigged Incentive Plan at ULTP. Anyone wants to see the personal targets set for FY2023 for the crucial three (Showman, Gossage & Dent) can read them on p.65 of the 2023 Annual Report. |
Posted at 10/4/2024 10:41 by thorpematt Skin in the game. All OK as far as I can tell here in that regard.What we have here essentially is a very cash-generative company. It sends about 50% of that back to shareholders in divis. To add to that it will be buying back stock and as far as i can assertain reducing the shares in issue - thus you get the big divi BUT the company reduces the cash outflow in the paying thereof. Now, added to that IF there are opportunities to buy good brands to cross sell and enhance sales thereof, the cash can be deployed there, so as not to stress the balance sheet. Much of this does hinge on the performance of the management, not least those as discussed. In my estimation thus far, they have done good....so I am postive that shareholder returns are real and should continue to be so. As ever with listed companies, trust in management is a very real concern. Here I have seen nothing to concern me but always a watching brief is wise IMO. |
Posted at 09/4/2024 15:55 by mpage Re: concentrated ownership by the crucial three. Apologies, I should have cited my source - a RNS issued shortly after the HI results this morning. You can read it here:hxxxs://www.investeg I only mentioned the outside possibility of being mugged by insiders because this is precisely what happened a year ago with Kape Technologies. Founder/Owner made offer at small premium - bought out all who sold into spike. Rinse and repeat. Think it was something you could get away with if co. registered in the IOM. Frankly, I think the owners/founder just want to buy back some shares and this is a hoop to be jumped through. It also helps get the debt : equity level closer to newly desire levels and slightly reduces the cost of capital (because there will be a greater proportion of debt relative to equity, upon completion). But that is secondary to getting money out. As long as they stick to a payout ratio of around 50% net profits I'm happy enough to hold. But if it should later turn out that they gear up the balance sheet and then find a reason to pay a large special dividend this would be a red flag for me. I'm old enough to remember what happened to New Star Asset Management when it did this. |
Posted at 09/4/2024 06:12 by edmonda "Balancing sales growth with cash flow generation" (Interim Results)Stable profits (EBITDA) and a marked reduction in bank debt were key features of Ultimate Products’ (‘UP’) interim results, released today. The company also announced its intention to buy back up to 10% of its shares. FY2024 full year results are expected to match current market expectations. With revenue expansion likely to resume in H2 2024, and continue into FY2025, we argue that UP is more than capable of generating sales growth and free cash flow simultaneously. Underlying 6% sales growth, a robust portfolio of six Premier Brands, the ability consistently to convert profits into cash and the prospect of a buyback programme support our view that UP’s shares merit a valuation significantly in excess of current levels. With a keen eye on relative valuation, we base our unchanged 250p fair value on 1.3x EV/sales, 10.3x EV/EBITDA and 14.7x P/E ratio. At this share price the dividend yield would still be 3.4% - i.e. in line with peers. New research report here: |
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