Oldham’s Ultimate Products, home to some of the best known brands in homewares, is considering moving its listing to AIM after shares hit a five-year low of 54p yesterday.
The brands in Ultimate’s portfolio include the UK’s oldest housewares brand, Salter, established in 1760, and the comparatively youthful Beldray, which was founded in 1872.
The firm’s latest trading update showed that for the financial year ended 31 July 2025, group revenues were £150.1m, down 3.4% on last year. This reflects “subdued consumer demand for general merchandise” the company said in a statement.
Third-party clearance and own label sales, which grew strongly during the previous financial year, declined by 48% to £13.8m in the period. There was better news for branded products, however, including Salter and Beldray, where sales rose by 4.3% to £121.9m.
At year end, the group had net bank debt of £14.1m (FY24: £10.4m).
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Andrew Gossage, chief executive of Ultimate Products, said: “We continue to operate in a challenging environment, with many consumers prioritising saving over spending. Although overall revenue declined, we are encouraged by the growth in sales of our UP brands, which remain a key differentiator and the driver of long-term value creation, both in the UK and internationally. We are confident that further investment and operational improvements within our business will better position us to take advantage of all commercial opportunities, win market share and deliver sustainable long-term growth.”
Ultimate Products was founded in 1997 and employs over 370 staff. It sells to over 300 retailers across 38 countries, and specialises in five main product categories: Small Domestic Appliances; Housewares; Laundry; Audio; and Heating and Cooling.
Other brands in the Ultimate portfolio include Progress (cookware and bakeware), Kleeneze (laundry and floorcare), Petra (small domestic appliances) and Intempo (audio).
The board added that the proposed move from the London Stock Exchange’s official list and main market to AIM could improve the potential to access new investors at the company’s current market capitalisation, and that further updates will be announced as appropriate.
