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Investing.com -- Ultimate Products, a U.K. mass-market consumer goods company, experienced a significant drop in share prices following a decrease in revenue and a reduction in its full-year guidance.
The company’s shares fell by as much as 16.3% in European early trade on Monday.
The company now anticipates EBITDA to be within the range of 14 million to 16 million pounds, a decrease from the previous guidance of 18 million pounds. It also projects a flat full-year revenue of 155.5 million pounds.
The company reported a nearly 6% decrease in revenue for its fiscal first-half, totaling 79.4 million pounds ($98.4 million). This decline was primarily due to a decrease in demand for general merchandise in the U.K. However, the company saw a 12% growth in international sales during this period.
Ultimate Products has revised its full-year adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) expectations.
Andrew Gossage, Chief Executive of Ultimate Products, attributed the challenging first quarter of fiscal 2025 to subdued consumer spending, global shipping disruptions, and the comparison to a surge in air fryer sales from the previous year.
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