Strix Group to meet expectations and focus on new products

Strix Group on Wednesday reported that strong sales of new ranges in the first half of 2018 saw the company remain on track to achieve results in line with market expectations for the full year.

The AIM-traded kettle safety and temperature regulation product manufacturer said it had maintained a market leading share of approximately 38% for the six-month period ended 30 June due to a particularly strong performance in North America.

Strix said it is continuing to focus on the development of new products following the success of the new U9 series of kettle controls which achieved order volumes of approximately 1m, with over 20% of these destined for the less regulated market that Strix has targeted for share growth.

Water filtering subsidiary Aqua Optima also performed well over the period, with a record market share of around 20% in the UK due to increased coverage in the UK retail sector.

Finally, Strix continued to defend intellectual property rights in China, settling an infringement claim for 19 electronic appliances and having five European Amazon webpages struck down for products that infringed on the company’s electronic kettle patent.

Strix Group’s shares were down 0.47% at 167.80p at 1113 BST.