Strix Group PLC (LSE:KETL) has released a trading update alongside news of an upcoming leadership change. For the six months to 30 September 2025, the company reported revenue of £64.6 million and net debt of £70.3 million. While macroeconomic pressures continue to weigh on performance, Strix noted early signs of recovery in its Controls division and solid results from both its Billi and Consumer Goods segments. The business remains focused on strengthening its balance sheet, implementing tighter working-capital measures and cancelling the FY24 final dividend as part of its broader debt-reduction strategy. Management is targeting a reduction in net-debt leverage to around 1.5x within 12–18 months. CEO Mark Bartlett will step down in May 2026, with the search for a successor already underway.
The company’s outlook is challenged by weak profitability, modest revenue trends, and bearish technical indicators. Shares remain in a downward trajectory, with oversold conditions and a negative P/E ratio detracting from valuation appeal. Although the firm’s cash generation provides a degree of support, meaningful improvement in profitability will be necessary to strengthen its financial position.
More about Strix Group
Founded in 1982 and headquartered in the Isle of Man, Strix Group PLC is a global leader in kettle-safety controls and related technologies for water heating, temperature regulation, steam management, and filtration. The company has broadened its product offering through brands such as Aqua Optima, LAICA, and Billi, supplying advanced water solutions to customers worldwide. Strix is listed on the AIM market of the London Stock Exchange.
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