H1-2022 Trading Update

RNS Number : 0790W

LifeSafe Holdings PLC

16 August 2022

 

For immediate release

16 August 2022

LifeSafe Holdings plc

('LifeSafe' or the 'Group')

H1-2022 Trading Update

LifeSafe (AIM:LIFS), a fire safety technology business with innovative fire safety products, announces that it will issue its results for the six months ended 30 June 2022 in the second half of September 2022.

The Board is pleased to report that LifeSafe traded in line with the Board's expectations, achieving   sales of approximately £1.2 million (H1-2021: £ 0.04 million; FY-2021: £0.67 million) .

Good progress was made in H1-2022 in creating and meeting increased demand for LifeSafe's products via its proven digital international multi-channel sales strategy. The Board is pleased to report that the sales momentum in H1-2022 has carried on into the first weeks of H2-2022.

The net proceeds of the IPO, which occurred on 6 July 2022, will enable LifeSafe to accelerate its growth through enhancing its profile and standing in target markets and in continuing the development of its strong pipeline of innovative new products and fluid derivatives.  The Group remains on track to launch these in H1-2023.

Neil Smith, Chief Executive Officer of LifeSafe, said: "We are pleased to report today on the strong operational and strategic progress that the Group has made in H1-2022, which reflects the successful commercialistion of our StaySafe 5-in-1 product since its launch in August last year.  In the Period, we have nearly doubled the revenues that we generated in FY-2021 and this strong momentum has continued into the second half.  We look forward to reporting our maiden set of interim results in September and updating the market further then."

- 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.

For further enquiries:

LifeSafe Holdings plc	Via Buchanan
Neil Smith, CEO	www.lifesafeholdingsplc.com
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]
Kim Looringh-van Beeck
Jack Devoy
George Cleary

Notes to Editors

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

LifeSafe has developed what the Directors believe to be market disrupting, 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 received a notice of intention to grant 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.  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

 

END

 

 

TSTEAKPSFEEAEFA