Up Global Sourcing Holdings (UPGS)

  • Change Today:
  • 52 Week High: 236.00
  • 52 Week Low: 121.00
  • Currency: UK Pounds
  • Shares Issued: 89.31m
  • Volume: 16,172
  • Market Cap: 108.07m
  • RiskGrade: 232

UP Global Sourcing to repay government furlough funds

By Josh White

Date: Monday 24 Aug 2020

LONDON (ShareCast) - (Sharecast News) - UP Global Sourcing, trading as Ultimate Products, announced on Monday that it has decided to repay the 0.47m that it received under the Coronavirus Job Retention Scheme.
The London-listed firm also said it did not intend to make any further claims under the furlough scheme, or for the associated Job Retention Bonus.

It said it was also no longer using the Government Time to Pay and VAT deferral schemes, with all VAT and PAYE payments up to date as at 31 July.

The board said the payments were possible as its profitability and cash generation had been stronger than expected during the Covid-19 crisis.

"The furlough scheme allowed us to work through the significant challenges that Covid-19 initially caused for our business," said chief executive officer Simon Showman.

"We are grateful to the government and the taxpayer for providing us with this support.

"As a result of the outstanding resilience, hard work and professionalism of our people, the outlook for our business is now much clearer."

Showman said returning the money to the taxpayer was "the right and proper" thing for the company to do.

"As the effects of Covid-19 continue to be felt globally, and particularly in Oldham at the present time, we are determined to carry on supporting local charities and initiatives in order to help ease the hardship felt by many in the communities in which we are proud to operate."

Ultimate Products said it would provide a more detailed update in its scheduled pre-close trading statement on 7 September.

At 1124 BST, shares in UP Global Sourcing Holdings were up 6.62% at 95p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.


UPGS Market Data

Currency UK Pounds
Share Price 121.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 236.00
52 Week Low 121.00
Volume 16,172
Shares Issued 89.31m
Market Cap 108.07m
RiskGrade 232

UPGS Star Ratings

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UPGS Dividends

  Latest Previous
  Interim Final
Ex-Div 07-Jul-22 06-Jan-22
Paid 29-Jul-22 28-Jan-22
Amount 2.30p 3.33p

Trades for 20-May-2022

Time Volume / Share Price
16:35 169 @ 121.00p
16:29 111 @ 123.00p
16:29 79 @ 123.00p
16:29 65 @ 123.00p
16:29 42 @ 123.00p

UPGS Key Personnel

CEO Simon Showman
CFO Graham Screawn

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