StockMarketWire.com - Consumer goods group UP Global Sourcing, also known as Ultimate Products, booked a 51% jump in annual profit as its international revenue doubled.

Pre-tax profit for the year through July rose to £8.2m, up from £5.4m on-year.

Revenue rose 41% to £123.3m, which the company said was driven by good growth across each of its four strategic pillars -- discounters, supermarkets, online platforms and international customers.

International revenue roughly doubled to £48.5m.

UP Global Sourcing declared a full-year dividend of 4.085p per share, up 50% on-year.

'We are delighted to have delivered substantial revenue and profit growth against such a challenging economic backdrop,' chief executive Simon Showman said.

'It is particularly pleasing that this growth has been broad-based across all of our channels and customer types, with our online and international businesses continuing to trade particularly strongly.'

'The market conditions for general merchandise remain challenging in the UK and Ultimate Products, like many others, is faced with an uncertain environment for consumers, retailers and suppliers.'

'However, current trading is in line with expectations and the 2020 financial year order book is moderately ahead of this time last year.'

'Therefore, despite the wider market uncertainty, we remain confident in the future prospects of Ultimate Products.'

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