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Ultimate Products (ULTP) investor relations material
Ultimate Products H1 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Proprietary brand sales increased by 5% year-over-year to £65.8m, aligning with the strategic focus on owned brands.
Total group revenue declined 6% year-over-year to £74.5m, reflecting subdued consumer demand and a planned reduction in non-core third-party clearance sales.
Trading performance remains in line with market expectations despite challenging market conditions.
Financial highlights
Adjusted EBITDA for H1 2026 is expected to be around £5.0m, impacted by lower sales.
Net bank debt at period end was £9.7m, down from £14.1m at 31 July 2025.
Net bank debt/adjusted EBITDA ratio improved to 0.9x from 1.1x at 31 July 2025.
Rolling 12-month average net bank debt/adjusted EBITDA was 1.4x.
Outlook and guidance
Current trading is in line with market expectations.
Board remains confident that ongoing investment in operational capabilities will position the group for growth as macroeconomic conditions improve.
FY26 consensus revenue is £137.7m, with adjusted EBITDA of £12.5m and adjusted EPS of 7.4p.
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