Strix Group (KETL)

Sector:

Electronic and Electrical Equipment

Index:

FTSE AIM 100

68.60p
   
  • Change Today:
      2.20p
  • 52 Week High: 112.60
  • 52 Week Low: 52.80
  • Currency: UK Pounds
  • Shares Issued: 218.71m
  • Volume: 539,969
  • Market Cap: £150.04m

Strix launching two new instant hot water products

By Josh White

Date: Tuesday 26 Oct 2021

LONDON (ShareCast) - (Sharecast News) - Kettle safety and potable water technology company Strix Group announced the launches of Aurora and Dual Flo as "key extensions" of its small domestic appliances category on Tuesday.
The AIM-traded firm said Aurora was currently being launched under Strix own brands as well as global and local brand partners, while Dual Flo would be launched internationally from October through global and local brand partners.

It said the product launches were in line with the new product development programme it set out at its capital markets day, supporting the key sustainability goals it set out in its recently-published 2021 environmental, social and governance report.

The company said the Aurora water station is a kettle, chiller and water jug, all-in-one appliance, with instant hot, unique 'true boil' or cold water with precise volume delivery avoiding wasted energy in boiling or chilling excess water.

Aurora was part of a continued expansion of the company's Aqua Optima portfolio, focussed on delivering budget-friendly water filtration solutions powered by "best-in-class" Strix technology.

Following a successful trial launch in the UK, the product was launched on Amazon in the summer and was expected to go live on Amazon EU in Germany, Spain and France in November.

Aurora was scheduled to be listed by a "leading UK retailer" during November, and launched internationally in the coming months.

Dual Flo, meanwhile, combines the utility of a standard kettle with the one-cup capability of a 'hot cup' machine, with Strix describing it as an "innovative twist" on kettle technology.

It said that significantly, Dual Flo would allow the consumer to benefit from convenience, speed and sustainability through water and energy reduction.

Dual Flo was launching in multiple locations globally, with Strix expecting to launch it in trade in October in Canada, followed by launches early in the new year in Switzerland and Russia.

Strix said it would also be launching an alternative variant under the 'Laica' brand in the first quarter of 2022.

The board said the launch of the Aurora and Dual Flo products would set the foundations for the hot-water-on-demand category, intended to cement Strix's position as a go-to technology partner for 'instant flow heater' technology.

"We are delighted to be launching Aurora and Dual Flo just ahead of COP26 and the Group will continue to focus its highly skilled engineering resource towards enhancing our core technologies and innovating into new commercial markets in a sustainable manner," said chief executive officer Mark Bartlett.

"Management's commitment is to drive our business towards net zero by 2023 and to develop solutions for sustainable living through our product offering.

"New product development remains a fundamental driver in the group's core business strategy and these launches take us even further down the path towards achieving those key objectives, as well as to deliver our medium-term targets to double the group's revenues over a five year period."

At 0933 BST, shares in Strix Group were up 1.88% at 271.5p.

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

 

Strix Group Market Data

Currency UK Pounds
Share Price 68.60p
Change Today 2.20p
% Change 3.31 %
52 Week High 112.60
52 Week Low 52.80
Volume 539,969
Shares Issued 218.71m
Market Cap £150.04m

Strix Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
Market averageMarket averageMarket averageMarket averageMarket average
94.12% above the sector average94.12% above the sector average94.12% above the sector average94.12% above the sector average94.12% above the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
2.56% above the sector average2.56% above the sector average2.56% above the sector average2.56% above the sector average2.56% above the sector average
Income
Market averageMarket averageMarket averageMarket averageMarket average
85.71% above the sector average85.71% above the sector average85.71% above the sector average85.71% above the sector average85.71% above the sector average
Growth
Market averageMarket averageMarket averageMarket averageMarket average
64.71% below the sector average64.71% below the sector average64.71% below the sector average64.71% below the sector average64.71% below the sector average

What The Brokers Say

Strong Buy 2
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 4
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Strix Group Dividends

  Latest Previous
  Interim Final
Ex-Div 16-Nov-23 29-Jun-23
Paid 29-Dec-23 11-Aug-23
Amount 0.90p 3.25p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 8,747 @ 68.60p
16:35 460 @ 68.60p
16:35 194 @ 68.60p
16:35 328 @ 68.60p
16:35 327 @ 68.60p

Strix Group Key Personnel

CEO Mark Victor Edward Bartlett
CFO Clare Foster

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