Safestyle Uk Share Discussion Threads

[citytrader66] 17/7/2018 07:40

"Customer service is of the utmost importance to us and these cases do not represent the vast majority of our staff or independent sales and canvass agents".

RNS out today. i quote "the Court ruled that Safestyle will be entitled to seek a proportion of its legal costs in obtaining those orders from Safeglaze UK".

[funkmasterp12] 17/7/2018 07:05

What a shower. I feel for holders here, I put this stock into my 5 for 2018 on Stockchallenge.co.uk - 'safe' to say it has ruined my entry!I think you're right, this could be the countdown unless they can turn this around quickly.

[pugugly] 17/7/2018 07:00

Now on main BBC news - Could be another red day - Same link a 1007 above.

Could this be the start of the final countdown ?

[citytrader66] 16/7/2018 20:41

"Prosecutor Ayesha Smart said: "These improper business practices were not limited to a small geographical area or just one rogue salesman but were repeated across the country and repeated over a period of around 17 months."

staff who now work for SafeGlaze to blame?

[jonwig] 16/7/2018 18:37

Just shown on BBC TV North:



Fined (£150k inc costs) for aggressive marketing. What a shower - such retro behaviour.

[citytrader66] 13/7/2018 22:09

very disappointing close. perhaps the court case isn't going too well, i thought maybe some news this week. i think today's RNS showed an II reducing just before the last RNS? a well timed sale.. mmmmmmm

[craffert] 13/7/2018 21:53

Hope you were a daytrader citytrader...40.7 looks a long way off at close today

[gilotron] 11/7/2018 16:24

ugly. Glad I lanced the boil here.

[citytrader66] 11/7/2018 10:50

10:38:57 40.7000 100,000 O 40.5500 40.9500 Sell

MM happy to pay 40.70p for 100,000 shares!

almost up 10% on my buy this morning.

[citytrader66] 11/7/2018 10:05

"The Group will also provide an update on its legal action against NIAMIC Developments Ltd in due course."

i'm expecting an update this week as per the last RNS but today's RNS gave no time-scale.. if good news then share price could get a significant boost.

[topvest] 11/7/2018 09:05

Safestyle was a very impressive business 2/3 years ago, with excellent profitability, sales growth and cash flow. It's rubbish to say that it shouldn't have been listed. What has happened is that the sales machine behind Safestyle has been ripped out of the business. The company is now more akin to Everest and Anglian Windows and is a fairly average business with break-even financials. It will take another 6-12 months to recover I suspect. There is a risk it could even go bust if it doesn't recover.

[my retirement fund] 11/7/2018 08:40

When you pull the windows out its a perfect time to replace the facia gutter and pipes. Any independent installer worth his salts will replace a facia as a seperate job. Part and parcel of the trade.I dont understand why safestyle have been able to float. I thought investors would have been savvy enough to realise that due to independent mass contractor competition. That the UK market would be unable to support such a business in a listed PLC format.

[jonwig] 11/7/2018 08:34

salchow - Everest were happy to do that! (I just wasn't too happy with the result.)

[salchow] 11/7/2018 08:31

jonwig - not held this for a while but not sure why you would approach them for downpipes and fascias. It would not occur to me to do so. A brief glance at their website shows an emphasis on windows and a bit on doors. Anyway, a recovery seems a long way off.

[pictureframe] 11/7/2018 08:26

The only minor positive is they have very little debt so servicing this when loss making shouldnt be too much of an issue, they have some breathing space.

But :

850k fine h&s
director forgets to mention he sold 1.4 millions share
on going legal action

and now loss making........

[joe say] 11/7/2018 08:16

When they learn what customers want then maybe they'll have a chance

Until then - avoid like the plague imo

[topvest] 11/7/2018 08:10

Yes, not unexpected I suppose. Turnarounds seldom turn or if they do take much longer than expected. This year is a basket case. Next year may see some improvement. No point selling my few now. Should have sold much earlier, but you live and learn. This company's fall from grace has been very dramatic. 2 years ago it was a vibrant high profitability company with a market leading position.

The one potential upside is if something positive happens on the Safeglaze front. This company seems to have stopped its TV campaign and may be forced into a settlement. Even better, would be a merger with Safestyle and the original founders coming home with all their staff albeit that is probably a long-shot!

[jonwig] 11/7/2018 07:57

Enquired the other day to Safestyle about a second job, involving downpipes and fascias. The CS chap on the phone said we only do such stuff if you buy a window or door as well.

He wasn't particularly civil, and don't they realise that a lot of this UPVC business is customer capture - do a small job properly and you might get bigger ones, or recommendations in future?

As for this trading update, Boris Johnson had the right phrase about another matter.

[pictureframe] 11/7/2018 07:56

Losses expected....this will be punished today

[topvest] 11/7/2018 07:41

Yet another profit warning. Cash gone. Some tentative signs of stabilisation of the business. Going to be a difficult and long way back, if ever. Only positive is that the doom and gloom is probably about as maxed out as it could be and everyone has long since lost hope.

[jonwig] 06/7/2018 07:28

We've just had a smallish job done, and chose Everest (on recommendation). Some scaffolding kit was delivered early morning. The two men came and finished the job by lunchtime. Scaffolding - untouched.

I phoned to ask when the scaffolding would be taken away. "It's booked for ten days." I played hell and it was removed next day. The driver (HSS, indeed!) told me Everest always did this (but not for a ten-day slot) and 90% of it was never used. He guessed about £200. The whole job was only £1,100.

So if that's an industry leader what are the cowboys like who infest this kind of business?

Anyway, I may try Safestyle for the next smallish job. Looking briefly at their accounts, is this some sort of value trap, or is there real potential recovery? Incidentally, Everest's accounts at Companies House are very detailed but their financial position doesn't look as sound as SFE's.

I'll come back if I find anything interesting.

[topvest] 01/6/2018 07:51

We now, maybe, understand why Safeglaze weren't sued until he had gone. To be honest, most people have gone and so this can be seen as a legacy issue. I wonder whether Safeglaze have fought back and dished out some dirt in retaliation, as the timing seems too much of a coincidence?

[caradog] 01/6/2018 07:32

Oh dear indeed. Sold 1.4 million shares and forgot to declare it? Raised 2.24 million to repay 1.55 million and “other obligations”. What “other obligations”? I think we should be told.

[funkmasterp12] 01/6/2018 07:28

Oh dear. The Nomad must be having a nightmare with this lot.

[bigchipflipflop] 30/5/2018 19:52

Top bloke richardson been there four weeks and resigned.. oh dear the saviour if safestyle realised he's flogging a dead horse. Safeglaze not a national player.. 8 depots in three months .if say they are ..quite amusing you all hold safestyle in such asteem. Won't go bust but takeover on table by SIG.