| AGM Statement Offers Encouragement To Investors

20th Jun by Equity Development

1 comment 125 reads

Strix (LON:KETL) - link to new note: https://www.equitydevelopment....

Ahead of today’s AGM, Strix has issued a trading update. Encouragingly, management note signs of recovery within the kettle controls market ahead of peak season, and adj. PBT expectations for the full year remain unchanged. YTD cash conservation actions have resulted in cash generation running ahead of internal expectations which, combined with the recent placing, means reductions in net debt/EBITDA leverage are ahead of plan. We retain our prior estimates and a fair value of 167p/share almost twice the current share price.

We maintain our fair value/share of 167p and think the shares remain materially undervalued relative to the average of our valuation models.

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1 comment

sharw

20th Jun

37% vote against re-election of Mark Kirkland. Why do you think that was?

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AGM statement offers encouragement to investors

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