AGM Statement

Safestyle UK PLC

18 May 2023

 

18 May 2023

Safestyle UK plc

("Safestyle" or the "Group")

AGM Statement

Alan Lovell, Chairman of Safestyle UK plc, the leading UK focused retailer and manufacturer of PVCu replacement windows and doors for the homeowner market, will make the following statement at today's Annual General Meeting:

Our trading has remained in line with recently revised expectations outlined at our Final Results in March.  We have maintained the price increases enacted late last year to mitigate input cost inflation.  Recently, we have slowed the rate of further price progression as input cost increases have begun to moderate and we are actively managing the balance between lead conversion/volume and price progression.

Investment in our strategic agenda has continued as we launched a material TV and radio campaign across February and March and pleasingly have seen further increases in our brand awareness which we are confident will underpin our growth aspirations for the medium-term.

Beyond brand, the business continues to make progress on its other key strategic objectives, and we look forward to providing a more detailed update at our Interim Results in September.

The Group is on track with its programme to reduce its cost base and improve margins.  The Board expects these will positively impact the underlying performance of the business as the year progresses and consequently, guidance for the full year remains unchanged.

Enquiries:

Safestyle UK plc Rob Neale, Chief Executive Officer Phil Joyner, Chief Financial Officer	via FTI Consulting
Zeus (Nominated Adviser & Joint Broker) Dan Bate / James Edis (Investment Banking) Dominic King (Corporate Broking)	Tel: [phone]
Liberum Capital Limited (Joint Broker) Jamie Richards / William King	Tel: [phone]
FTI Consulting (Financial PR) Alex Beagley / Sam Macpherson / Amy Goldup	Tel: [phone]

About Safestyle UK plc

The Group is the leading retailer and manufacturer of PVCu replacement windows and doors to the UK homeowner market.  For more information please visit www.safestyleukplc.co.uk or www.safestyle-windows.co.uk.

 

END