Strix – put the kettle on, it’s some massively-adjusted results…

Describing itself as “the global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration”, Strix Group (KETL) has announced results to 31st March 2026 and that it’s entered this year “with positive momentum… and… with a strong financial position, market leading Controls brand and established expertise in water filtration, the board remains confident in Strix’s ability to deliver sustainable long-term growth”. Er, so what about a currently slightly further down towards 34p share price comparing to above 50p early in 2026?

Strix – put the kettle on, it updates on more trading performance risks…

Describing itself as a “global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration”, Strix Group (KETL) has issued a “Trading Update and Capital Return”-titled announcement. That sounds encouraging and what about a current share price response up to 41.8p?

Strix (#KETL) – “up to” £10m tender offer at 43p per share

Strix – “Review of the Last Six Months & Trading Update”, a kettle still malfunctioning…

Describing itself as a “global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration”, Strix Group (KETL) has issued a “Review of the Last Six Months & Trading Update”-titled announcement. Hmmm, why’s it “review” as well as trading update in the title?

Strix (#KETL) – put the kettle on, it’s another trading warning

Strix (#KETL) – Chief Commercial Officer Rachel Pallett “to step down… to pursue new opportunities”

Strix (#KETL) – agreement for disposal of Billi business for £110m

Strix – “Trading update and management change”, debt desperation?

An announcement from Strix Group (KETL) commences with that “the global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration, today provides an update on trading and an upcoming management change”. Despite already being down from 50p reached in September towards 35p, the shares are currently now falling below 35p. Put the kettle on, is it more disappointment here?

Strix (#KETL) – CEO Mark Bartlett to “step down” next year, states “trading broadly in line with market expectations”

Strix (#KETL) – H1 adj. profit fall, net debt up to £68.8m and notes “macro trading volatility”

Strix (#KETL) – “reduced Q225 sales volumes and… order delays in the group’s Controls division”

Strix (#KETL) – 2024 adj. PBT “comfortably within the previously announced range”, “maintain a year-end net debt leverage of below 2x”

Strix – “Trading Update” = Profit Warning (natch!) and has there really been “significant progress” on the balance sheet?…

Strix Group (KETL) has issued a “trading update” including that for kettle controls it “has maintained its dominant market position with stable market share” and that the launch of a new low-cost control has been well received as well as that “Billi (filtration systems) is performing well with a positive increase in sales in Europe following successful progress on the division's geographical roll-out strategy”. So what of a share price, already down from above 80p in September, currently further down towards 55p?

Strix (#KETL) – trading warning, “now expects to report adjusted profit before tax for FY24 in the range of £18m to £19m (on a constant currency basis)”

Strix (#KETL) – £8.7m placing at 80p per share

Put the kettle on, it’s another disastrous trading statement from Strix containing a blatant porky

In August 2021 shares in the company claiming to be revolutionising the world of kettles, Strix (KETL) were 375p. Today they are 62.5p after yet another disastrous statement. Old father time, Malcolm Stacey, was a fan but Steve and I warned you time and time again. Let’s start with the dividend. It’s been axed.

Strix (#KETL) – 2023 adj. EPS down to 9.2p, DPS axed as also net debt £83.7m

Strix Group – trading update argues “strong” cash generation, but how strong really?…

Kettle safety controls and other water temperature management components group, Strix (KETL) has issued a “Pre-Close Trading Update and CFO Appointment” announcement including noting 2023 “adjusted profit after tax for the full year of £20.6m on a constant currency and £20.1m on a reported basis… Cash generation for the group during the second half of the year was strong and year-end net debt will be c.£83.7m… a clear plan to get net debt/EBITDA to below 1.5x before the end of 2025”. What of a current approaching 5% lower share price towards 70p in response?

Strix – another two red flags

Steve Moore and I have warned you all often enough about Strix (KETL), the company claiming to be revolutionizing the world of kettles. Today another two big red flags.

Strix (#KETL) – Raudres Wong “to retire as CFO, effective immediately”, agrees “leverage ratio covenant relaxation to 2.5x in September”