Share Name Share Symbol Market Type Share ISIN Share Description
Up Global Sourcing Holdings Plc LSE:UPGS London Ordinary Share GB00BYX7MG58 ORDS 0.25P
  Price Change % Change Share Price Shares Traded Last Trade
  -2.50 -3.4% 71.00 4,976 08:54:35
Bid Price Offer Price High Price Low Price Open Price
71.00 76.00 71.00 71.00 71.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 87.57 5.42 5.20 13.7 58
Last Trade Time Trade Type Trade Size Trade Price Currency
10:03:11 O 3,389 73.75 GBX

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Date Time Title Posts
08/10/201915:01Ultimate Products,let's hope so2,239

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Up Global Sourcing Daily Update: Up Global Sourcing Holdings Plc is listed in the Support Services sector of the London Stock Exchange with ticker UPGS. The last closing price for Up Global Sourcing was 73.50p.
Up Global Sourcing Holdings Plc has a 4 week average price of 70p and a 12 week average price of 66.60p.
The 1 year high share price is 90p while the 1 year low share price is currently 32p.
There are currently 82,169,600 shares in issue and the average daily traded volume is 25,065 shares. The market capitalisation of Up Global Sourcing Holdings Plc is £58,340,416.
podgyted: Equity Development "Positive End to FY2019 Confirmed UPGS’s pre-close FY2019 trading statement confirmed a previously stated view on 17th July that FY2019 would end on a positive note. The company will announce preliminary full year results on 5th November 2019. Ahead of then, underlying trends remain firmly positive. We upgrade FY2020 forecasts too. Sales revenue in FY2019 grew by 40.8% to £123.3m. The company’s most recently guided range was £121.5m to £122.0m. EBITDA is expected to be 53.4% higher at £9.9m compared with our £9.7m forecast. PBT is expected to be £8.5m compared with £8.3m envisaged previously. We raise FY2019 EPS from 7.9p to 8.1p. Importantly, UPGS continues to deliver ahead of its own guidance and associated market expectations. After disappointment a year earlier, FY2019 has been a year of upgrades. Key drivers of faster sales growth include international business which was 39.4% of revenue compared with 27.4% in FY2018 and online which was 9.2% of group business compared with 7.9% a year earlier. What is impressive is that UPGS continues to deliver brisk consumer goods oriented organic growth in mature markets. Right now, that is a rare quality. We update our FY2019 forecasts to reflect the trading statement. In addition we upgrade FY2020 revenue from £127.6m to £129.5m and adjusted EBITDA from £10.1m to £10.4m. The impact of these upgrades on adjusted pre-tax profits is an increase from £8.7m to £8.9m and we raise our FY2020 EPS forecast from 8.3p to 8.5p. UPGS’s financial position remains strong. Net debt/EBITDA at 31st July 2019 was 1.5x, well down from 2.0x a year earlier. Headroom against facilities rose £10.1m compared with £9.1m at end-FY2018. In the past year UPGS has consistently delivered trading news ahead of market expectations. In our view, investors should take this into account when assessing valuation and we continue to argue that a 100p share price seems sensible. We base that view on 0.8x EV/Sales, 10.0x EV/EBITDA and a 12.3x prospective P/E ratio."
quepassa: This share price performance since the disastrous post-IPO sales forecast miss has been truly atrocious. this share price has slumped from its peak of 250p to the current 63p. That's almost 75% down from its peak . The thing is that if the management got their forecasts so badly wrong once, you have to ask yourself if they can do it again. Are they to be trusted? Personally, I found today's update full of unnerving caveats about Brexit. It was by no means a straightforward statement. I treat this share and this management with a great deal of distrust. Whilst UPGS has enjoyed a recent bounce, it remains woefully down on its peak price and its IPO price. This is in my opinion an extremely volatile and risky share with a management team which has a track-record of disappointing by badly missing its own sales forecasts. ALL IMO. DYOR. QP
muzmanoz: Looking at the chart, if the share price stays at this level, next week should show a 52 week high share price (the current highs from last Jan moving out of range).Is that how it works? Will this mean it will come up on more people's filters? Just thinking out loud really.
ianio5691: UP Global Sourcing Holdings plc Feeling good about FY2019 After an unquestionably challenging year, UPGS delivered FY2018 preliminary earnings results in line with consensus as underlying EPS was 5.4p. Sales revenue of £88m and £6.5m adjusted EBITDA reconfirmed an earlier announcement. UPGS’s international business continued to gain ground as a portion of sales due to a strong H2. Moreover, FY2019 appears to have started well and we raise our EBITDA estimate from £6.9m to £7.1m, largely due to better than expected sales revenue: the future feels good. UPGS’s ability to supply high quality known brands at affordable prices, places it firmly in the “feel good” camp as a supplier of consumer products. Investors should also feel good about how FY2019 has started in our view. Sales revenue is in line with expectations and international momentum is encouraging. Hence, we raise our earnings forecasts for the full year – EBITDA by 3% and EPS by 2%. It’s a contrast with FY2018. Overall, there were few surprises in UPGS’s FY2018 results. Revenue and EBITDA were pre-released in a 10th September trading statement, which reported that FY2019 orders were ahead of last year and that online rose 52% to be 7.9% of sales revenue. Importantly, international regained ground in the second half of FY2018 and comprised 36.9% of sales compared with 19.8% in the first half and 27.4% in the year as a whole. International sales grew 16.4% in the 6 months. German business doubled in FY2018. UPGS reconfirmed that FY2019 started well and we infer good reason for ongoing optimism. A well-positioned brand portfolio and good growth prospects in both online and international prompt us to raise our FY2019 sales forecast from £95.4m to £97.0m,EBITDA from £6.9m to £7.1m and EPS from 5.5p to 5.6p. Dividend policy is for a 2x cover, while debt headroom and projected cash conversion underpin future dividends. The longer-term investment case for UPGS remains intact. The company is committed to driving its brands’ revenue growth through its four strategic pillars: discount retailers,raised supermarket penetration, online and international. We retain our future expectations of sustainable 5% organic sales revenue growth. Based on our revised forecasts for FY2019, UPGS trades on 6.2x EV/EBITDA, a 6.8x P/E ratio and offers a generous 7.4% prospective dividend yield. Investors should probably feel good about the share price potential.
ianio5691: UP Global Sourcing Holdings plc (LON:UPGS) is a stock with outstanding fundamental characteristics. When we build an investment case, we need to look at the stock with a holistic perspective. In the case of UPGS, it is a financially-sound company with a a strong track record of performance, trading at a great value. Below is a brief commentary on these key aspects. Undervalued with excellent balance sheet UPGS delivered a satisfying double-digit returns of 50.3% in the most recent year Unsurprisingly, UPGS surpassed the Retail Distributors industry return of 16.6%, which gives us more confidence of the company’s capacity to drive earnings going forward. UPGS is financially robust, with ample cash on hand and short-term investments to meet upcoming liabilities. This suggests prudent control over cash and cost by management, which is a crucial insight into the health of the company. UPGS seems to have put its debt to good use, generating operating cash levels of 1.34x total debt in the most recent year. This is also a good indication as to whether debt is properly covered by the company’s cash flows. UPGS’s share price is trading at below its true value, meaning that the market sentiment for the stock is currently bearish. According to my intrinsic value of the stock, which is driven by analyst consensus forecast of UPGS’s earnings, investors now have the opportunity to buy into the stock to reap capital gains. Compared to the rest of the retail distributors industry, UPGS is also trading below its peers, relative to earnings generated. This bolsters the proposition that UPGS’s price is currently discounted.
ianio5691: UP Global Sourcing Holdings PLC Ultimately, there is Growth Ultimate Products Global Sourcing Holdings PLC (UPGS) looks well placed to return to growth. UPGS enjoys a combination of well-known household brands, a proprietary approach to managing those brands, and significant growth headroom within its distribution channels. Moreover, after a challenging H1, sales trends improved in FY2018 H2. With a strong management team and, arguably, an attractive valuation, the shares should attract investors’ attention. UPGS is a consumer goods company with a robust portfolio of household durable goods brands. Its premier offering includes Beldray, Salter, Russell Hobbs, Intempo and Progress. Uniquely, the company offers these brands at attractive prices and in categories which expand the overall footprint of the brand names. In our view, UPGS’s brand management approach positions these key names for growth but in a way which will generate shareholder value. UPGS’s portfolio should experience what we refer to as mature market volume growth, which is arguably the strongest driver of value creation in the UK consumer goods sector. Overall management quality tends to be confirmed by clear vision and smart strategic positioning. UPGS’s FY2018 disappointed relative to initial expectations, notably in the first half. But its share price may have been unfairly hurt by general investor nervousness about UK consumer stocks. With scope to recover sales in FY2019 and grow in FY2020, the shares arguably command a valuation significantly in excess of where they currently trade. Our forecasts for FY2018 – partly covered in the company’s 10th September 2018 trading update – and FY2019 are summarised in the valuation box below. In our view, both the P/E ratio and dividend yield look attractive in the context of the nature of the company’s business and potential for near term recovery. Given the UK retail climate at the moment, it is challenging to set a precise value on the shares. But to give some guidance we look at our revenue estimate for FY2019 and, even applying a conservative 1x EV/sales multiple, come out with a share price of £1 per share. Furthermore, we are encouraged by the resilience that UPGS has shown in these challenging times when others have floundered. We highlight the strength of their balance sheet, as well as their ability to adapt quickly to external challenges - e.g. by focusing on international and online opportunities.
lammylover: I wonder if Black Rock are selling their remaining <5% shares (as declared by the RNS in Feb), thereby stopping the UPGS share price rising? Today the UPGS employee benefit fund declared a buy of over 2m shares at 37p for the company' share performance plan and yet the share price still doesn't move... Either the MMs have more to sell, or are holding the price back for some reason? Perhaps they want to acquire more cheap stock to sell when they are ready to bounce the price up above 40p again. Rich
douglas fir: UP Global Sourcing Holdings (LON:UPGS) Share price: 37.9p (+5%) No. of shares: 82 million Market cap: £31 million Interim Results This share price has tanked horribly since IPO. I'd be surprised if IPO investors didn't feel like they had been mugged: 5ae6f38d9f1d9UPGS_20180430.PNG It's an Oldham-based distributor of cheap consumer brands. In February, on the back of the latest profit warning, I said that it was arguably in value territory at a share price of 33p. This seemed to finally reflect the company's limited pricing power (its products sell at just a small premium to retailers' own-brand products), and the low rating gave a potentially attractive risk:reward. Trading for the financial year 2018 (ending July) is in line with (reduced) expectations. The company's economic commentary is extraordinarily bearish, given that we still aren't in recession. Imagine how companies like this will report if/when a recession hits? The decline reflects the much tougher trading environment for general merchandise in the UK, with wage inflation running behind general inflation. Discretionary spend has been under pressure and consumer confidence has therefore been lower than it has been for some time. As a consequence non-food sales have declined as consumers have prioritised food purchases. The gross margin is flat at c. 22%, which helps to quantify the very limited pricing power of the company's products. The share price now looks like it probably reflects this. Profit for the six-month period falls out at £3.1 million, or £2.7 million if you include losses on hedging instruments (due to the rising pound, I guess). The balance sheet seems strong enough - a positive equity position worth £6.75 million, not using too many fixed assets. Borrowings are used to finance invoices and imports - fair enough. Overall, my stance is unchanged. I think this has fallen to levels where shareholders can potentially do well. For a variety of reasons, including low visibility, it's never going to be a super high-quality investment. But maybe the share price more than fully compensates for this now? Stockopedia computers recognise good value: 5ae6fa0268a2fUPGS_20180430_SR.PNG
lammylover: Hi John, I got the same response. Can't get my head around this share price. I know there has been a consistent big seller out there, but surely another II would have snapped up a big volume at the low price that he seems to be prepared to take? We know the retailers have had a mixed bag of results over Xmas (B%M and discounters good, Supermarket okayish, high street retailers poor) but surely this is all priced in the share anyway? Share price was holding around 90-100p after the original "no growth next year" warning, dipped a bit and then back up to the high 90's when TU in November plus big Director buys at 93.25p were announced. What has changed since then, other than 1 big seller wanting out at stupidly low prices? My research today shows that UPGS are currently advertising for 15 new people including 2 new Sales Managers for France and Germany as part of their European expansion plans. New German office will be ready in the Spring and planning for a large sales team to be appointed. Surely if things were as bad as share price suggests, there would be a recruitment freeze?
muzmanoz: I've just been to my local B&M. It might be my bias having watched the UPGS share price fall, but there seems to be a lot more Goodmans branded products.
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