This ad will be closed automatically in X seconds.

Ultimate Products’ Andrew Gossage comments on cost of living crisis

Ultimate Products (UPGS) has reported a 42% rise in pre-tax profits as consumers demand energy saving and efficient products during the cost of living crisis.

“We’re seeing a big emphasis on products that save money,” commented Andrew Gossage, md of Ultimate Products, while talking live to Sky News.

Asked about congestion in supply chain, Andrew told Sky News: “It’s easing as an issue, we’re not back to normal, but compared to up to 12 months ago it’s much more straight forward. For example we were paying up to $12,000 per container, now we’re paying less than $3,000 which is helpful. Reliability isn’t back to normal but we’re getting there.”

On the subject of pricing during the cost of living crisis, Andrew offered a very balanced reply, stating: “We don’t really plan to pass on cost increases; in terms of our input costs they’re broadly level. We had a lot of cost inflation last year, we dealt with that – we are seeing inflation from currency but that’s being offset with costs on shipping. We see our mission to provide beautiful products for everyone, seeing ourselves as advocates of the ‘squeezed middle’, so our job is to make sure that the value we deliver makes peoples lives better and that’s no more important than at the current time.”

The interview further probed Andrew on China lockdowns (affecting offices), the Salter acquisition and more.

See the full interview here:

MORE NEWS
BIRA (1)
 
November’s BRC-NielsenIQ Shop Price Index has caused concern with the British Independent Retailers Association....
Dexam (3)
 
In response to demand from retailers and consumers, Dexam has introduced two new sizes to its collection, which was a finalist in both the Excellence in Cookware and The Innovation Award categories at the EIH awards....
Bundt (2)
 
Melanie Johnson has shared 120 recipes for every occasion in the new book, out now....
HSBC (1)
 
The association is disappointed to learn that HSBC will be closing 114 of its branches next year....
Ambiente (1)
 
Young designers to exhibit at Ambiente...
Trendbible (2)
 
Teaming up with trend agency partner, TrendBible, Spring Fair has published a new report, delving into the trend for Christmas 2023....
Get the latest news sent to your inbox
Subscribe to our daily newsletter

The list doesn't exist! Make sure you have imported the list on the 'Manage List Forms' page.