Poor safety controls | Challenge to AIM?
News covered here includes disappointing results from a developer of superlative kettle safety controls whose financial controls are unfortunately less impressive. More positively, we are impressed with results from an alternative exchange provider for financial markets, which could be developing a credible alternative to AIM. Read on here for this and other news (Free to read)
Strix shares slump on poor results and dividend cut Strix Group (AIM:KETL), a leader in the manufacture of kettle safety controls and other components and devices involving water heating and water filtration, reported disappointing interim results which brought a very steep fall in its share price. This business has paid out plenty of dividends since admission to AIM in 2017, many of them funded by debt rather than ‘actual’ free cash flow. Unfortunately, with interest rates up sharply, it’s now starting to pay the price for its elevated (some might say irresponsible!) debt position. The 6 months to 30 June…