DIY

Safestyle welcomes 6.7% revenue growth

The group will report its interim results for the six months ending 3 July 2022 on Thursday 22 September 2022

Safestyle UK plc, the UK-focused retailer and manufacturer of PVCu replacement windows and doors for the homeowner market, has welcomed “robust” trading in the first four months of the year, with revenue up by 6.7%.

Despite a cyber attack in the first quarter of the year, by the end of April its order book was 26% higher than last year, while order intake grew by 16.3% over the period.

March and April delivered over 10% growth in revenue, which reportedly “reflects the recovery from operational disruption caused by the cyber attack in January”. 

The board acknowledged the current wider economic uncertainty, but “remains of the view that their strong marketing plans and value proposition offers resilience against a possible decline in demand”. 

On the topic of sustainability, the group said it has met its 2024 CO2 targets by the end of 2021, representing a 19.1% reduction since 2020. Incremental improvements have reset its targets for a further 6% reduction for 2025, intending to complete a Scope 3 audit of its 10 largest suppliers by the end of the year.

The board also communicated an intent to outline its strategic roadmap for the medium term, which will take the form of a Capital Markets Day presentation on 7 September 2022 with further details to be reported nearer the time. 

The group noted that guidance for the full year remains unchanged with the financial impact of the cyber attack confined to H1. Its H2 financial performance is still forecast to follow the improving trajectory achieved in FY 2021.

The group will report its interim results for the six months ending 3 July 2022 on Thursday 22 September 2022.

Alan Lovell, chairman of Safestyle UK plc, said: “Our trading has remained in line with expectations, supported by our largest TV campaign since 2017, with an updated brand identity and communications platform. 

“Despite a cyber attack which affected us severely during Q1, order intake has remained robust, growing by 16.3% to the end of April.  Our order book at the end of April, at 26% higher than last year, will continue to support strong revenue levels through the summer.”

He added: “Revenue for the first four months of the year was 6.7% ahead of last year, with March and April delivering over 10% growth reflecting the recovery from operational disruption caused by the cyber attack in January.”

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