Announcing its trading update for the financial year ended 31 July 2022, Ultimate Products Group revenues increased 13% to a record £154.2m (unaudited). With underlying organic growth of 1%, Ultimate’s strong performance has been helped by the acquisition of Salter as well as notably strong sales in supermarkets, now the Group’s largest sales channel.
“We are delighted to have delivered record results despite the challenges of disrupted supply chains and a deteriorating macroeconomic backdrop,” comments Simon Showman, chief executive of Ultimate Products. “Increased sales into supermarkets, especially in Europe, have been key to this year’s performance and will continue to be critically important components of our future growth plans.”
Expressing the confidence of Ultimate’s board of directors for the future, Simon reports: “Operationally, our robotics and automation initiatives are progressing well, and we are already starting to see some early productivity benefits. While the macroeconomic backdrop will continue to present headwinds, the resilience of this performance is yet another demonstration of Ultimate Products’ ability to navigate and adapt to challenging conditions.”
Top: Heston Blumenthal by Salter, owned by Ultimate Products.