UP Global Sourcing upgrades profit guidance thanks to sales boost
Source - SMW
Consumer goods group UP Global Sourcing Holdings, which trades as Ultimate Products, upgraded its annual profit guidance after it experienced better-than-expected sales in the second half.
Revenue for the year through July was now expected at between £121.5m and £122.0m.
'Underlying profit before tax performance in the 2019 financial year will therefore be above the market's current expectations,' the company said.
UP Global Sourcing said revenue growth had exceeded its expectations since it announced its interim results in April across all four of its strategic pillars: discounters, UK supermarkets, online platforms and international customers.
At 8:17am: (LON:UPGS) UP Global Sourcing Holdings Plc share price was +9.3p at 81.5p