Safestyle UK falls after bleak FY profit outlook

Safestyle UK

29/11/2022 10:00

** Shares of windows and doors retailer Safestyle UK
 SFES.L  down as much as 23.2% at 23.5p
    ** Stock hits lowest level in over two months
    ** Company sees its FY underlying profit before tax to be
"materially below" current market consensus, hurt by higher
costs and slowdown in demand
    ** Order intake from late-September to end of October has
been volatile on a fall in consumer confidence amid global
political and economic crises - SFES
    ** Order intake for September to end of October is 7.6%
below expectations and 2.7% lower than previous year, according
to Safestyle 
    ** Company, however, says order intake since early November
has returned to expected levels
    ** As of last close, stock down 37.6% YTD
 (Reporting by Sinchita Mitra in Bengaluru)
 ((sinchita.mitra@thomsonreuters.com))