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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Safestyle Uk Plc | LSE:SFE | London | Ordinary Share | JE00BGP63272 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.32 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Manufacturing Industries,nec | 154.32M | -6.51M | -0.0469 | -0.07 | 444.37k |
TIDMSFE
RNS Number : 7816U
Safestyle UK PLC
23 January 2017
23 January 2017
Safestyle UK plc
("Safestyle" or the "Company")
Year End Trading Update
Safestyle UK plc (AIM: SFE), the leading UK-focused retailer and manufacturer of PVCu windows and doors for the homeowner market, is pleased to provide a trading update for the year ended 31 December 2016.
The Company has continued to trade well, with revenue for the year increasing 9.8% to approximately GBP163.5 million (2015: GBP148.9 million). In addition, profit before tax has shown good progress and is in line with Board expectations. As expected, our second half showed slower growth than H1 due to more challenging comparatives.
Our performance in 2016 has been pleasing and we estimate that we have continued to gain market share. Our growth is reflected in the increase in frames manufactured during the year, up 3.2% to 288,460 (2015: 279,453 frames), whilst the number of installations increased 4.7% to 62,989 (2015: 60,134).
Price increases implemented at the start of 2016 helped us deliver improved operating margins, offsetting consumer finance subsidy costs, which have become an established feature of our cost base.
Cash flow has continued to be strong and we ended the year with cash of GBP13.5 million (31 December 2015: GBP16.5million), having paid a special dividend during the year of GBP5.6m and incurred GBP4.6m of expenditure on our new factory extension, which continues to be on time and on budget.
The Company intends to announce its audited results for the year ended 31 December 2016 on 23 March 2017.
Steve Birmingham, CEO of Safestyle UK, commented:
"I am pleased to report that trading during 2016 was consistently strong and that we have achieved another year of record turnover. 2017 will see increases in our raw material costs primarily due to sterling weakness. However, we plan to offset such increases by improving the price we obtain for our products. Despite the uncertain macroeconomic outlook, we remain cautiously optimistic and believe we are well positioned to continue growing the business"
-Ends-
For further information please call:
Safestyle UK plc via FTI Consulting Steve Birmingham, Chief Executive Officer Mike Robinson, Chief Financial Officer Zeus Capital (Nominated Adviser Tel: 0207 533 & Joint Broker) 7727 Nick How / Dominic King / Andrew Jones Liberum Capital Limited (Joint Tel: 0203 100 Broker) 2100 Neil Patel / Jamie Richards FTI Consulting (Financial PR) Tel: 0203 727 Oliver Winters / Alex Beagley 1000 / James Styles
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
January 23, 2017 02:00 ET (07:00 GMT)
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