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SFE Safestyle Uk Plc

0.32
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
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

Safestyle UK PLC Year End Trading Update (7816U)

23/01/2017 7:00am

UK Regulatory


Safestyle Uk (LSE:SFE)
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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

TSTEAPFEAFFXEFF

(END) Dow Jones Newswires

January 23, 2017 02:00 ET (07:00 GMT)

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