Strix Group 2021 Revenue, Adjusted Pretax Profit Rose on Organic Growth, Laica Acquisition – MarketWatch

By Kyle Morris
Strix Group PLC said Wednesday that revenue and adjusted pretax profit rose in 2021, driven by organic growth and the acquisition of Laica.
The U.K. kettle-safety-controls supplier said that adjusted pretax profit–which strips out exceptional and other one-off items–was 32.2 million pounds ($42.2 million) compared with GBP30.9 million a year earlier. Pretax profit was GBP21.5 million compared with GBP25.5 million a year earlier.
Revenue for the period was GBP119.4 million compared with GBP95.3 million in 2020.
Despite the positive demand backdrop, headwinds include increases in commodity prices, freight cost inflation, supply chain and adverse foreign exchange rates, it said.
The company proposed an increased final dividend of 5.60 pence a share compared with 5.25 pence a year earlier.
Shares in Strix Group at 0805 GMT were down 19.00 pence, or 7.9%, at 221.00 pence.
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