Despite macro uncertainties, the sharp decline in the share price of Strix over the last six months is surprising given operational newsflow. The recent trading report highlighted that record revenue and profits had been achieved in FY21, with the latest update underlining the progress made towards the five-year goal of doubling revenues. Our estimates are unchanged.
With several milestones passed and the roll-out of Aurora ahead of budget, the growth in the number of retail listings and secured distribution agreements remains encouraging. With additional launches, such as December’s induction kettle (securing a German design award) we think the outlook remains promising for Strix Group, as reflected in their stated target of doubling revenues in the five years to 2025. We look forward to further guidance on the company’s financials with the announcement of their results towards the end of the month.
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