Safestyle UK plunges on weak FY results

Safestyle UK

23/03/2023 09:57

** Shares of windows and doors retailer Safestyle UK
 SFES.L  down as much as 21% at 24.8p
    ** Among top losers across all London stocks
    ** Expects 2023 revenue to be below expectations and
underlying profitability to be about 2 mln pounds, hurt by
challenging market conditions
    ** Cites challenges such as a cyber-attack, record high
temperatures in the UK and a difficult consumer environment
    ** Posts FY loss before tax of 8.5 mln pounds vs profit
after tax of 6.0 mln pounds a year earlier
    ** Says order intake for February and March has been slower
than anticipated 
    ** Stock down ~10.30% YTD, after tumbling ~45.67% in 2022 

 (Reporting by Anandita Mehrotra in Bengaluru)
 ((Anandita.Mehrotra@thomsonreuters.com))