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Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Strix strikes confident note in figure light update

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Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
There’s a few nuggets of information from kettle controls manufacturer Strix’s (KETL:AIM) latest update (22 Jan) worth noting, not least on the net debt front, where the best part of £10m has been shaved off since the end of June 2018 to £28m now.
That should mean more cash available to pay dividends in future, underlining the 7p per share payout for 2018 and a 10% increase anticipated by analyst in 2019, implying a 5.2% income yield.
The update is a little light on financial detail but investors are told that the underlying kettles market continues to grow at around the 7% mark (as expected) in spite of trade tensions.
We also know that Strix has maintained its market leading 38% share. One question that will need answering when full year results are published is to what extent robust volumes, and new lower cost U-9 series, may have had on profit margins.
In the meantime, the company continues to make excellent progress on its Aqua Optima water filter lines, where it now has a 25% market share in the UK.
SHARES SAYS: Analysts continue to see the shares hitting 210p over the coming months despite the modest progress so far, and we have little reason to disagree. Still a buy.
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