UP Global Sourcing – what are the longer-term prospects like
The owner, manager, designer and developer of an extensive range of value-focused consumer goods brands, UP Global Sourcing (LON:UPGS) will be holdings its AGM on Friday 11 December.
It has faced up well its retailer clients demands in these difficult times.
In the short-term market conditions for general merchandise, they say, look set to remain challenging in both the UK and in Europe.
But the group’s management have confidence that they will ride it enough to be able to enjoy the longer-term prospects.
Estimates for the current year to end July 2021 look for a £7m rise in sales to £123m and pre-tax profits of £8.7m (£8.3m). That should increase earnings to 8.4p (7.9p) per share putting the shares at 100p on 11.5 times current year earnings.
The shares touched 119p in early September and could well be up there again on the back of a good AGM statement.
(Profile 13.07.20 @ 74.8p set a Target Price of 100p*)