Safestyle UK PLC Trading Update (1695Q)
September 08 2017 - 2:00AM
UK Regulatory
TIDMSFE
RNS Number : 1695Q
Safestyle UK PLC
08 September 2017
08 September 2017
Safestyle UK plc
("The Group")
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 an update on current trading.
The Group announced on 18 July 2017 that given the uncertain
market conditions and weaker consumer confidence it anticipated
profit for the year would be lower than previously expected and
broadly in line with 2016. Since then, the Group's order intake has
declined beyond the Board's expectations. The Board believes this
is due to an accelerating weakness in the market resulting from
increasing consumer caution, as evidenced by the latest FENSA
statistics, which show that the overall market has deteriorated
further, with installations down by 18% in June and July compared
to 2016.
Safestyle has continued to grow market share and remains well
positioned in the event of a market recovery. However, given the
marked change in market conditions, we now expect Full Year 2017
Group revenues to be flat year on year. At the same time, our
efforts to drive order intake are incurring additional costs,
thereby adversely affecting the Group's margin performance, and
leading to a material impact on full year profits.
The Group remains cash generative, with a significant cash
balance and a robust balance sheet.
The Group will announce its interim results on 21 September
2017.
Enquiries:
Safestyle UK plc via FTI Consulting
Steve Birmingham, Chief Executive Officer
Mike Robinson, Chief Financial Officer
Zeus Capital (Nominated Adviser & Joint Tel: 0203 829 5000
Broker)
Nick How / Dominic King / Andrew Jones
Liberum Capital Limited (Joint Broker) Tel: 0203 100 2100
Neil Patel / Jamie Richards
FTI Consulting (Financial PR) Tel: 0203 727 1000
Oliver Winters / Alex Beagley / James
Styles
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
This information is provided by RNS
The company news service from the London Stock Exchange
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