REG - LifeSafe Holdings - Trading Update

LifeSafe HoldingsAnnouncement

06/12/2022 07:01

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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 £3.0 million for the full year ending 31 December 2022
("FY22").

 

The Board has therefore upwardly revised its expectation of FY22 revenue to
between £3.5 million and £3.8 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."

 

- 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)

 

 

 

- Ends -

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