25th Jan 2016 08:19
LONDON (Alliance News) - Safestyle UK PLC On Monday said pretax profit in 2015 is expected to be in line with market expectations after a strong performance in the second half of the year.
The PVCu windows and doors manufacturer said revenue in the year increased 9.5% to GBP148.9 million from GBP136.0 million in 2014, while pretax profit also showed good progress. The second half of the year saw double-digit growth in both sales and profit, Safestyle said.
The consensus market expectation for pretax profit is GBP17.6 million for the full year, up from GBP16.4 million in 2014.
Safestyle added that the successful roll-out of its enhanced consumer finance offer helped to drive growth in the year, despite a weaker market, although as a result of additional subsidy costs related to the offer, operating margin will decline in the second half.
"I am pleased to report that trading over the year has been robust. We have continued to heavily outperform the market, thanks to the quality of our product range, the attractiveness of our finance offer and the effectiveness of our sales and marketing efforts. We have seen a strong start to 2016 and are confident of building on the progress made in 2015," Chief Executive Steve Birmingham said in a statement.
Shares in Safestyle were trading down 1.1% at 235.50 pence early Monday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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