31st Mar 2023 16:48
(Alliance New) - LifeSafe Holdings PLC on Friday said that sales growth has continued to exceed the company's expectations so far in 2023, particularly in the US.
The fire safety technology firm also said it has entered into a non-revolving GBP250,000 invoice finance facility, which is utilisable over an initial term of six months.
The facility does not bear interest but attracts a fee of GBP18,750 payable equally over the initial term. Each drawdown is repayable over the six months following drawdown, with the first instalment paid at the time of the first drawdown. The facility is currently not being used.
LifeSafe explained that it has signed the facility "in order to more easily manage its ensuing working capital requirements."
Chair Dominic Berger said: "We are delighted with the Group's continuing strong sales growth, particularly in our key US market. The new invoice facility announced today will enable us to meet that growing demand more effectively."
Shares in LifeSafe were down 6.3% to 33.25 pence each in London on Friday afternoon.
By Sophie Rose, Alliance News reporter
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