Safestyle UK tanks on bleak forecast as order intake falters

Safestyle UK

27/07/2023 09:30

** Shares of windows and doors retailer Safestyle  SFES.L 
drop 44.5% to 10.2p
    ** Stock set for biggest one-day pct drop, if losses hold 
    ** Co says it expects full-year performance to be
"materially below" current market expectations
    ** "The challenging market conditions have worsened over the
last 5 weeks into July and have adversely impacted order intake
volumes which the board forecasts will be an ongoing trend ..."
- SFES
    ** SFES also sees 5.4% fall in H1 revenue on lower order
intake, and a loss before tax of ~6 mln pounds for the same
period 
    ** Stock down ~62% YTD  

 (Reporting by Eva Mathews in Bengaluru)
 ((Eva.mathews@thomsonreuters.com))