LifeSafe Holdings PLC Trading Update (6296I)

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RNS Number : 6296I

LifeSafe Holdings PLC

06 December 2022

 
 For immediate release   6 December 2022 
 

LifeSafe Holdings plc

('LifeSafe', the 'Group' or the 'Company')

Trading Update

'FY22 revenue expected to be significantly ahead of expectations'

LifeSafe (AIM:LIFS), a fire safety technology business with innovative fire extinguishing fluid and fire safety products, provides the following trading update for the eleven month period ended 30 November 2022.

The Board is delighted to report that sales growth through the Group's consumer channels has materially exceeded its expectations in the eleven months to 30 November 2022. Revenue in that period is now above current market guidance of GBP3.0 million for the full year ending 31 December 2022 ("FY22").

The Board has therefore upwardly revised its expectation of FY22 revenue to between GBP3.5 million and GBP3.8 million.

This increase in revenues has been, and continues to be, generated through the Group's innovative product range, and effective marketing strategy across LifeSafe's consumer sales channels, with particularly strong growth in the US.

In order to meet the growing demand, and to ensure that stock is available in the first months of 2023, short term logistics costs are expected to be higher than budgeted in the remainder of 2022. Taking into account also the increased marketing costs to generate the higher sales, the Board currently anticipates that EBITDA for the full year will be in line with current market expectations.

LifeSafe will provide a further trading update in late January 2023 once the impact of trading in the busy Christmas period is known.

Commenting on the Trading Update, Dominic Berger, Chairman of LifeSafe, said: "It is extremely pleasing to see that the execution of the Board's strategy is having such a positive impact on the Group's performance.

"Our initial investment has delivered these strong sales which is not only extremely positive for FY22 but also highly exciting for FY23 and beyond. As we continue to grow the business by expanding our innovative fire extinguishing offering into the wholesale and industrial markets, we believe that shareholder value will be further enhanced."

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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.

The person responsible for arranging the release of this announcement on behalf of the Company is Mike Stilwell, Chief Financial Officer of the Company.

For further enquiries:

 
 LifeSafe Holdings plc                                Via Buchanan 
 Dominic Berger, Chairman              www.lifesafeholdingsplc.com 
 Neil Smith, CEO 
 Mike Stilwell, CFO 
 
 WH Ireland Limited (Nominated           Tel: [phone] 
  Adviser & Broker) 
 Chris Fielding 
 Darshan Patel 
 
 Buchanan (Financial Communications)     Tel: [phone] 
 Henry Harrison-Topham                    [e-mail] 
 Jack Devoy 
 George Cleary 
 

Notes to Editors

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

LifeSafe has developed what the Directors believe to be a market disrupting range of 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 been granted 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. The 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

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December 06, 2022 02:00 ET (07:00 GMT)