Trading Update-Upgrade to FY22 revenue performance

RNS Number : 3107O

LifeSafe Holdings PLC

31 January 2023

 

For immediate release

31 January 2023

LifeSafe Holdings plc

('LifeSafe', the 'Group' or the 'Company')

Trading Update

'Further upgrade to FY22 revenue performance'

LifeSafe (AIM:LIFS), a fire safety technology business with innovative fire extinguishing fluid and fire safety products, provides the following trading update for the year ended 31 December 2022 ('FY22').  The figures set out in this announcement are subject to audit.

Further to LifeSafe's Trading Update released on 6 December 2022, the Board is delighted to report that, following excellent trading in the busy Christmas period, sales growth through the Group's consumer channels has further exceeded its expectations for FY22.

Revenue for FY22 is expected to be approximately £3.9 million which is above its previous expectation of between £3.5 million and £3.8 million, and above current market guidance of £3.65 million.

The Board attributes the increase in revenues to the Group's innovative product range, and its effective marketing strategy across its consumer sales channels, with particularly strong growth in the US.

Based on the improved revenue, the Board currently anticipates that EBITDA for FY22 will be slightly ahead of current market expectations.

It is expected that the preliminary results will be published in the week commencing 17 April 2023.

Commenting on the Trading Update, Dominic Berger, Chairman of LifeSafe, said:

"I am extremely pleased to report our second revenue upgrade since our listing last year, which provides a clear validation of the quality of our product and strength of our management team and marketing strategy.

"Trading in the new financial year has started well and we are increasingly confident that we will break into profit on a monthly basis by the end of this year."

The company will be hosting an investor presentation to discuss the trading update on 8 February 2023 at 5pm GMT. Please email [e-mail] to register your interest.

- Ends -

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR").  Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

The person responsible for arranging the release of this announcement on behalf of the Company is Mike Stilwell, Chief Financial Officer of the Company.

For further enquiries:

LifeSafe Holdings plc	Via Buchanan
Dominic Berger, Chairman	www.lifesafeholdingsplc.com
Neil Smith, CEO
Mike Stilwell, CFO
WH Ireland Limited (Nominated Adviser & Broker)	Tel: [phone]
Chris Fielding
Darshan Patel
Buchanan (Financial Communications)	Tel: [phone]
Henry Harrison-Topham	[e-mail]
Jack Devoy
George Cleary

Notes to Editors

LifeSafe is a fire safety technology business that develops eco-friendly, novel and innovative fire extinguishing fluids with a range of life-saving fire safety products.  LifeSafe has a highly experienced management team which is seeking to create new markets for the Group in fire safety through new technologies, digital marketing and multi-channel sales.

LifeSafe has developed what the Directors believe to be a market disrupting range of eco-friendly fire safety protection products to both protect (via fire extinguishers) and detect (via carbon monoxide, smoke and heat alarms) fires.  At the centre of the Group's product range is the FER1000 extinguishing fluid, for which the Group has been granted a patent in the UK.  The FER1000 fluid has been developed by LifeSafe to extinguish five different types of fire: electrical, paper, textiles, cooking oil, and petrol and diesel.

The Group's best-selling product using this extinguishing fluid is the StaySafe 5-in-1 fire extinguisher.  It was launched on Amazon Prime in the UK in August 2021 and subsequently became Amazon Prime's top-selling fire extinguisher in the UK in the same month.  The StaySafe 5-in-1 and the PanSafe pan fire extinguisher were launched in Screwfix in Spring 2022 with the StaySafe range of smoke, heat and carbon monoxide detectors.

LifeSafe is developing new fluid derivations and products for launch in 2023.

LifeSafe was admitted to trading on AIM in July 2022 with the ticker LIFS.L.  For additional information please visit https://www.lifesafeholdingsplc.com .

LinkedIn: https://www.linkedin.com/company/lifesafe-technologies

Twitter: https://twitter.com/LifesafeT

 

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