Kettle controls business on track, one year after AIM-listing
Kettle safety controls manufacturer and supplier Strix announced a trading update today, almost a year after its £190m equity fundraising and listing on the Alterntive Investment Market (AIM).
The Isle of Man-based group said it had performed well during the first half period to June 30, and is on track to report results in line with market expectations for the full year.
It said cash flow conversion remains strong, supporting its dividend policy.
Strix, which was founded in 1982, has maintained its global market leading share of around 38%, with a particularly strong performance in North America.
A new series of controls, U9, has performed positively and has secured orders of nearly one million over the past six months.
Meanwhile, it says the focus continues on the development of new products.
The group also continues to defend its intellectual property rights and successfully settled an infringement claim in China for 19 electronic appliances during the period, and had five web pages taken down on Amazon across their European platform for products that infringed Strix electronic kettle patent.
Results for the six month period will be announced on September 19.
Strix designs, manufactures and supplies kettle safety controls and other water temperature management components.
The company sold 174 million kettles worldwide in 2016 – a 38% global market share.
It employs more than 750 staff across its six sites in Chester, the Isle of Man, Hong Kong and China, as well as regional sales managers based across the globe.
