Ultimate Products plc (ULTP) develops new, innovative concepts and brings professional, sought-after products to the mass market. Their offices span two continents, with headquarters in the UK, a sourcing office and showroom in China and a further showroom in Continental Europe. Key owned brands include Salter, Beldray, Progress, Kleeneze, Petra and Intempo. The company also markets non-electrical Russell Hobbs products under licence, now on a rolling four-year basis.

27 Oct 2026

Brands lead the way as new CEO takes over

Ultimate Products’ FY2026 results matched expectations as the company’s proprietary brands advanced sales by 5.3%, having grown by 4.3% a year earlier.

Today’s data also confirms that end-year net bank debt was £8.6m, an improvement on both the £9.7m reported at the interim stage and £14.1m a year earlier. Current trading is stated to be in line with expectations.

New CEO Simon Harrison, who has a strong background working with brands, assumed office this week. With close to 90% of the company’s business now focused on proprietary brands, the foundations appear well laid for future expansion and shareholder value creation, both in the UK and internationally.

We maintain our fair value estimate of 165p/share, equivalent to a 1.0x FY2027 EV/sales ratio and 14.6x EV/EBITDA based on our forecasts.

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