Business
Capital Markets Day
Capital Markets Day.
About this update from Strix Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0195E\n Strix Group PLC\n 03 November 2020\n \n \n \n \n Strix Group Plc\n \n \n (\"Strix\" or the \"Group\")\n \n \n Capital Markets Day\n \n \n Strix Group Plc (AIM:KETL), the AIM quoted global leader in the design, manufacture and supply of kettle safety controls and other complementary water temperature management components, will be hosting a virtual\n \n Capital Markets Day\n \n starting at 14:00 GMT \n today to provide an update on its medium-term strategy and current trading.\n \n \n Medium-term strategy update:-\n \n \n - The Board expects to double Group revenues over the next five years primarily through organic growth in its Water and Appliances categories;\n \n \n - Continue to grow market share in Kettle Controls; \n \n \n - Invest in compelling growth opportunities with particular focus on new product development and commercialisation strategy that support the medium-term growth ambition; and \n \n \n - Execute on ESG commitments to provide a safer sustainable future for its customers. \n \n \n Update on current trading:-\n \n \n - Strong order book visibility for December now underpins Board's confidence that 2020 profitability for the Group (excluding the impact of the LAICA acquisition) will show modest growth versus prior year; \n \n \n - R\n ecord sales since June have been driven by replenishment of pipe-line stock and a better than expected seasonal uplift;\n \n \n - \n Buffer stock implemented to minimise any disruption during Brexit negotiations and all manufacturing locations remain fully operational; and\n \n \n - Adjusted net debt remains in line with expectations and the Group has a strong liquidity position.\n \n \n Despite the unprecedented global macroeconomic disruption caused by the COVID-19 pandemic, the Group is robust and, as a market leader with a global footprint, remains highly confident in its future prospects. Strix's investment proposition is underpinned by:-\n \n \n - High quality, resilient and robust business model which benefits from geographic and product diversification;\n \n \n - Continued focus on efficiency measures and strategic initiatives to manage its highly variable cost base and prudently invest in compelling growth opportunities; \n \n \n - Conservative balan...