Safestyle plummets after weak outlook

Safestyle UK

22/09/2022 09:20

** Shares of windows and doors retailer Safestyle  SFES.L 
drop 20.8% to 20.3p
    ** Stock to mark worst day in more than two years if losses
hold; top loser on the LSE  .PL.L 
    ** British co says although it expects full-year revenue to
exceed estimates, underlying profit will be about 1 mln pounds
($1.13 mln), lower than 7.6 mln pounds in prvs year
    ** Says it is facing a number of headwinds like weakening
consumer demand and record high temperatures in the UK
    ** Co swung to a 1.4 mln pound underlying loss before tax in
H1, mostly due to a 4 mln pound impact from a cyberattack 
    ** "There will be tailwinds for Safestyle as pricing
momentum is carried into 2023" - Liberum
    ** Liberum says cyberattack and factory disruption are
unlikely to repeat, lead generation costs should have adjusted
and the group may benefit from renewed TV advertising
    ** SFES down 55.9% YTD
($1 = 0.8858 pounds)
 (Reporting by Aniruddha Ghosh in Bengaluru)
 ((Aniruddha.Ghosh@thomsonreuters.com; 91 83 83 81 2416;))