StockMarketWire.com - Consumer goods group UP Global Sourcing, also known as Ultimate Products, said it had grown first-half revenue by 2.8% and that it was monitoring the impact of the coronvirus outbreak on its business in China.

Revenue for the six months through January rose to £67.7m, up from £65.8m on-year.

'Given that the majority of the group's manufacturing is based in China, the board is closely monitoring developments with the coronavirus outbreak there,' Ultimate Products said.

An extension of the Chinese New Year holiday by nine days to Monday in the company main manufacturing areas was expected to cause production delays,' it added.

'As further information becomes available, we will continue to evaluate any short or long term impact on the group's business and take all necessary action to mitigate any disruption,' Ultimate Products said.

'We have extensive experience of managing supply chain disruptions in China, including those caused by previous viral outbreaks.'

'The board currently expects full year profitability for the 2020 financial year to be in line with market expectations.'

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