Safestyle UK PLC AGM Statement (4777F)
18 May 2017 - 4:00PM
UK Regulatory
TIDMSFE
RNS Number : 4777F
Safestyle UK PLC
18 May 2017
18 May 2017
Safestyle UK plc
("The Group")
AGM Statement
Steve Halbert, Chairman of Safestyle UK plc, the leading UK
focused retailer and manufacturer of PVCu replacement windows and
doors for the homeowner market, will make the following statement
at today's Annual General Meeting in respect of current
trading:
"2017 started positively with robust order intake in the first
quarter, however recent trading has been weaker than expected
reflecting the latest FENSA statistics which have shown a
significant contraction in the overall market in the first quarter
of 2017. As a result, compared with an exceptionally strong
equivalent trading period last year, the Group has seen more modest
overall growth of 2% in order intake for the first four months of
2017.
The Group expects to grow revenues in the first half of the
financial year, but anticipates profits in the first half will be
lower than the comparative period last year due to a combination of
lower than planned volumes and some parallel running costs
following investment in our new production facilities, as
previously outlined. We have a number of initiatives underway and
combined with the impact of enhanced production productivity,
expect an improved performance in the second half of the financial
year.
The Group continues to gain market share and to build its order
book during the first half. While we are currently operating in a
more challenging trading environment, the Group's balance sheet and
cash generation remain strong and the Board is confident of
delivering Full Year results broadly in line with market
expectations."
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
END
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