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Ultimate Products – from “continues to trade in line with market expectations” to profit warning in less than 5 weeks!

By Steve Moore | Friday 10 May 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Homeware brands company Ultimate Products (ULTP) has issued a third quarter, to 30th April 2024, trading update including to “expect FY24 revenues to be at least £156m, with gross margin being in line with last year, and Adjusted EBITDA to be in a range of £17.5-18.5m… the order book for FY25, at this early stage, is significantly ahead of FY24 as retailers continue to increase their forward orders as the overstocking issues brought about by the pandemic subside and consumer confidence builds as we see a return to real wage growth”. So what of the shares currently falling below 150p?
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