Shares in Strix Group PLC (AIM:KETL) fell 10% to 42.3p after the kettle safety controls manufacturer warned that an anticipated recovery in volumes had failed to materialise, cutting its full-year profit forecast.
The AIM-listed group now expects revenue of around £150 million and adjusted profit before tax of £9.8-10.2 million for the year to end-March, below previous expectations.
Management had hoped for a catch-up in volumes lost during 2025, particularly in regulated markets, but this did not come through ahead of the busy April to June production period.
Strix also flagged a significant headwind from commodity prices, with copper up around 50% and silver up around 300% since the start of 2025, limiting the company's ability to hedge given its focus on debt reduction over the past year.
There was some positive news, with trading improvements reported in the fourth quarter of 2025 continuing into early 2026, with its consumer goods division returning to growth following a restructuring.
Strix completed the sale of its Billi water filtration division in January for net proceeds of around £105 million, leaving it with net cash of around £35 million and a £10 million share buyback underway.
The company said its search for a new chief executive remains ongoing.