REG - LifeSafe Holdings - Trading Update-Upgrade to FY22 revenue performance

LifeSafe HoldingsAnnouncement

31/01/2023 07:01

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RNS Number : 3107O  LifeSafe Holdings PLC  31 January 2023

 

 

 For immediate release  31 January 2023

 

 

LifeSafe Holdings plc

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

 

Trading Update

 

'Further upgrade to FY22 revenue performance'

 

LifeSafe (AIM:LIFS), a fire safety technology business with innovative fire
extinguishing fluid and fire safety products, provides the following trading
update for the year ended 31 December 2022 ('FY22').  The figures set out in
this announcement are subject to audit.

 

Further to LifeSafe's Trading Update released on 6 December 2022, the Board is
delighted to report that, following excellent trading in the busy Christmas
period, sales growth through the Group's consumer channels has further
exceeded its expectations for FY22.

 

Revenue for FY22 is expected to be approximately £3.9 million which is above
its previous expectation of between £3.5 million and £3.8 million, and above
current market guidance of £3.65 million.

 

The Board attributes the increase in revenues to the Group's innovative
product range, and its effective marketing strategy across its consumer sales
channels, with particularly strong growth in the US.

 

Based on the improved revenue, the Board currently anticipates that EBITDA for
FY22 will be slightly ahead of current market expectations.

 

It is expected that the preliminary results will be published in the week
commencing 17 April 2023.

 

Commenting on the Trading Update, Dominic Berger, Chairman of LifeSafe, said:

 

"I am extremely pleased to report our second revenue upgrade since our listing
last year, which provides a clear validation of the quality of our product and
strength of our management team and marketing strategy.

 

"Trading in the new financial year has started well and we are increasingly
confident that we will break into profit on a monthly basis by the end of this
year."

 

 

The company will be hosting an investor presentation to discuss the trading
update on 8 February 2023 at 5pm GMT. Please email lifesafe@buchanan.uk.com
(mailto:lifesafe@buchanan.uk.com) to register your interest.

 

- Ends -

 

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 (http://www.lifesafeholdingsplc.com)
 Neil Smith, CEO
 Mike Stilwell, CFO

 WH Ireland Limited (Nominated Adviser & Broker)      Tel: +44 (0) 20 7220 1666
 Chris Fielding
 Darshan Patel

 Buchanan (Financial Communications)                  Tel: +44 (0) 20 7466 5000
 Henry Harrison-Topham                                LifeSafe@buchanan.uk.com (mailto:LifeSafe@buchanan.uk.com)
 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
(https://www.lifesafeholdingsplc.com) .

 

LinkedIn: https://www.linkedin.com/company/lifesafe-technologies
(https://www.linkedin.com/company/lifesafe-technologies)

Twitter: https://twitter.com/LifesafeT (https://twitter.com/LifesafeT)

 

 

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