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Consumer goods group UP Global Sourcing, also known as Ultimate Products, reported a 14% rise in annual profit and hiked its dividend, while welcoming a 'structural' pandemic-led shift to home cooking.
Pre-tax profit for the year through July increased to £9.5 million, up from £8.4 million year-on-year, as revenue jumped 18% to £136.4 million.
Ultimate Products declared a full-year dividend of 5.02p per share, up 27% year-on-year.
'Once again, we are pleased to have demonstrated Ultimate Products' resilience and adaptability against the extremely challenging background of the Covid-19 pandemic,' chief executive Simon Showman said.
'As restrictions ease, it is becoming clear that the pandemic has ushered in structural changes to consumer behaviours, which are to the benefit of Ultimate Products and that we believe are here to stay.'
'More home working and home cooking, a greater emphasis on hygiene and cleanliness, and a more considered approach to spending all complement our long-standing strategy of developing and building our portfolio of brands that focus on mass-market and value-led consumer goods for the home.'
'The board therefore remains confident in the group's long-term prospects.'