Half Year Trading Update

RNS Number : 5284E

Safestyle UK PLC

19 July 2016

 

19 July 2016

Safestyle UK plc

("Safestyle" or the "Company")

Half Year Trading Update

Safestyle UK plc (AIM: SFE), the leading retailer and manufacturer of PVCu replacement windows and doors to the UK homeowner market, today issues a trading update for the six months ended 30 June 2016, in advance of its half year results announcement scheduled for Thursday 15 September 2016.

Since our last trading statement at our AGM on 19 May 2016, the Company has continued to trade in line with our enhanced expectations for the current year. Order intake in the first half was up 19.7% on prior year, which is expected to deliver H1 sales revenue of £83.5 million, an increase of 12.8% (H1 2015: £74.0 million).  FENSA statistics show that we have increased our market share year on year to 10.0% from 9.5%.

During the first half of the year our order book increased significantly and we will benefit from a controlled release of some of this increase in the second half.

Cash flow has continued to be strong and we had net cash of £23.6 million at 30 June 2016 (30 June 2015: £14.9 million).

Steve Birmingham, CEO of Safestyle UK, commented:

"We are very pleased with our performance in the first half of this year. Whilst the longer term impact of the referendum decision on the broader economy remains to be seen, there has been no short term detrimental effect on our order intake. The Company has a proven successful model, with a growth strategy underpinned by a combination of our expanded product range, attractive promotional finance package, continued geographic expansion and financial strength.  As a result, the Board remains confident in our ability to continue to outperform the market and achieve full year results in line with management expectations."

Enquiries:

Safestyle UK plc Steve Birmingham, Chief Executive Officer Mike Robinson, Chief Financial Officer	via FTI Consulting
Zeus Capital (Nominated Adviser & Joint Broker) Nick How / Dominic King	Tel: [phone]
Liberum Capital Limited (Joint Broker) Neil Patel / Tom Fyson	Tel: [phone]
FTI Consulting (Financial PR) Oliver Winters / Alex Beagley / James Styles	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.

 

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