Picture of Safestyle UK logo

SFE Safestyle UK News Story

0.000.00%
gb flag iconLast trade - 00:00
Consumer CyclicalsHighly SpeculativeMicro Cap

REG - Safestyle UK PLC - AGM Statement and Notices of CMD & Interim Results

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220608:nRSH0593Oa&default-theme=true

RNS Number : 0593O  Safestyle UK PLC  08 June 2022

8 June 2022

 

 

Safestyle UK plc

("Safestyle" or the "Group")

 

AGM Statement and Notices of a Capital Markets Day and Interim Results

 

Alan Lovell, 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 ("AGM"):

 

Trading update

 

Our trading has remained in line with expectations, supported by our largest
TV campaign since 2017, with an updated brand identity and communications
platform.  We believe that this campaign has helped mitigate the impact of
declining consumer confidence and general economic uncertainty.

 

Despite a cyber attack which affected us severely during Q1, order intake has
remained robust, growing by 16.3% to the end of April.  Our order book at the
end of April, at 26% higher than last year, will continue to support strong
revenue levels through the summer.

 

Revenue for the first four months of the year was 6.7% ahead of last year,
with March and April delivering over 10% growth reflecting the recovery from
operational disruption caused by the cyber attack in January.

 

As previously communicated, the cyber attack will impact H1 financial
performance primarily through disruption to customer service and a delay to a
planned material price increase.  The price increase has now been implemented
and the business will continue to respond quickly to any future increase in
costs.  Concurrently, we are putting a commensurate focus on our internal
productivity and overheads.

 

Strategic priorities

The business has continued to progress its strategic agenda as outlined in our
preliminary results announcement and Annual Report.

 

·      New TV campaign: our new TV campaign aired between February and
April, leveraging our consumer insight work and utilising David Seaman, OBE,
as our new brand ambassador.  The communication platform of 'Great Saves with
Safestyle' has performed well, driving increased sales and improved brand
awareness.

 

·      Safestyle Academy: faced with widespread skill shortages we
initiated a significant investment in training new installers.  The programme
has been heavily oversubscribed since launch and is now full.

 

·      Levelling up depots and sales branch performance: our new depot
training programme will launch in the coming weeks, supporting our new
Standard Operating Procedures which will unlock the benefits of best practice
across our network.

 

·      Sustainability: having delivered our 2024 CO(2) targets by the
end of 2021, representing a 19.1% reduction since 2020, we are now driving
incremental improvements and have reset our targets for a further 6% reduction
for 2025.  We intend to complete a Scope 3 audit of our 10 largest suppliers
by the end of the year.

 

Outlook

The Board acknowledges the current wider economic uncertainty, but remains of
the view that our strong marketing plans and value proposition offers
resilience against a possible decline in demand.  We will continue to
anticipate and act early on costs and pricing while also focusing on
controlling our overheads and driving productivity.

 

Guidance for the full year remains unchanged with the financial impact of the
cyber attack confined to H1.  Despite the challenging context, our H2
financial performance is forecast to follow the improving trajectory achieved
in FY 2021.

 

Capital Markets Day and Notice of Interim Results

Having successfully navigated a number of years of turbulence, the Board has
communicated its intent to outline the Group's strategic roadmap for the
medium term.  To ensure we can communicate this to as wide a group as
possible, this will take the form of a Capital Markets Day presentation on 7
September 2022.  Further details will be published nearer the event.

 

The Group will report its interim results for the six months ending 3 July
2022 on Thursday 22 September 2022.

 

Enquiries:

 

 Safestyle UK plc                                via FTI Consulting

 Mike Gallacher, Chief Executive Officer

 Rob Neale, Chief Financial Officer

 Zeus (Nominated Adviser & Joint Broker)         Tel: 0203 829 5000

 Dan Bate / Daniel Harris (Investment Banking)

 Dominic King (Corporate Broking)

 Liberum Capital Limited (Joint Broker)          Tel: 0203 100 2100

 Neil Patel / Jamie Richards

 FTI Consulting (Financial PR)                   Tel: 0203 727 1000

 Alex Beagley / Sam Macpherson / Amy Goldup

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 (http://www.safestyleukplc.co.uk) or
www.safestyle-windows.co.uk (http://www.safestyle-windows.co.uk) .

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGMBLGDLXDGDGDR

Recent news on Safestyle UK

See all news