Safestyle UK H1 update shows impressive growth of sales and cash

Safestyle announces 19.7% increase in sales giving expected H1 revenue of £83.5 million and increases cash at hand by £8.7 million year on year.

“Half Year Trading Update

 Safestyle UK plc (AIM: SFE), the leading retailer and manufacturer of PVCu replacement windows and doors to the UK homeowner market, today issues a trading update for the six months ended 30 June 2016, in advance of its half year results announcement scheduled for Thursday 15 September 2016.

 Since our last trading statement at our AGM on 19 May 2016, the Company has continued to trade in line with our enhanced expectations for the current year. Order intake in the first half was up 19.7% on prior year, which is expected to deliver H1 sales revenue of £83.5 million, an increase of 12.8% (H1 2015: £74.0 million).  FENSA statistics show that we have increased our market share year on year to 10.0% from 9.5%.

 During the first half of the year our order book increased significantly and we will benefit from a controlled release of some of this increase in the second half.

 Cash flow has continued to be strong and we had net cash of £23.6 million at 30 June 2016 (30 June 2015: £14.9 million).”

Source LSE News – read the full release Here…..