Strix Group

KETL · AIM · Industrial Goods and Services · mcap £65m · 32.1p

Strix designs and makes safety and temperature controls for kettles and other appliances, plus water filtration and consumer products such as LAICA. Until 2026 it also owned Billi, an Australian maker of premium boiling and chilled water taps.

Target	Promise	Said	Status
2024
31 Dec 2024	Complete Halopure disposal by end of FY24	18 Sep 2024	✓ Kept
	“Planned disposal of Halopure expected to complete by the end of FY24” Result January 2025 update said Consumer Goods restructuring was complete. “The Consumer Goods division is slightly below the prior year (CER), as planned, following the previously announced successful restructuring initiatives.”30 Jan 2025 · Trading Update
2025
30 Jul 2025	Start a competitive refinancing process	10 Jul 2025	✓ Kept
	“a competitive refinancing process has been formally initiated to provide cost effective and flexible funding” Also stated 30 Jul 2025 Result July 2025 update said the process had been formally initiated. “The Group confirms that a competitive refinancing process has been formally initiated to provide cost effective and flexible funding to support the Group's medium-term investment-driven growth aspirations.”30 Jul 2025 · Trading Update
2026
31 Mar 2026	FY26 revenue c.£150m and adjusted PBT £9.8-10.2m	9 Mar 2026	✓ Kept
	“A full Capital Allocation Framework will be announced later in the year as part of a wider strategic update” Result Results showed £153.2m revenue and £10.1m adjusted PBT, within forecast range. “The Group reiterates that it expects to report revenue of c.£150m and adjusted profit before tax in the range of £9.8m to £10.2m for FY26.”7 May 2026 · Trading Update and Capital Return “Group adjusted PBT for PE26 of £10.1m at CER, firmly within forecast range.”4 Aug 2026 · Final Results
Today · 10 Oct 2026
2027
31 May 2027	Reduce net debt leverage to c.1.5x within 12-18 months	30 Sep 2025	✓ Kept
	“Reducing the debt position within the stated appetite of 1.0-2.0x as soon as possible will be of critical focus to the Board over the next 12-18 months” Also stated 26 Nov 2025 Result The Billi sale produced net cash of £38.7m at March 2026, with leverage reported at 1.88x on prior earnings. “Net cash of £38.7m provides financial flexibility to invest and ability to return funds to shareholders.”4 Aug 2026 · Final Results “Net debt leverage \| N/A \| N/A \| 1.88x”4 Aug 2026 · Final Results