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UP Global Sourcing upgrades earnings guidance

Monday, 7th January 2019
Consumer goods group UP Global Sourcing Holdings, known as Ultimate Products, said it expected its earnings performance in the 2019 financial year to beat current market expectations.

Positive momentum reported by the company in November had continued, it said, with strong-than-expected revenue growth recorded in four 'strategic pillars', including discounters, UK supermarkets, online platforms and international customers.

'As a result, and notwithstanding the higher overhead costs associated with servicing the increased revenue, the group now anticipates that its Ebitda performance in FY19 will be above the market's current expectations,' the company said.

'The board will provide a further update on the group's trading performance following conclusion of the first half on 11 February 2019.'

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