22nd May 2014 12:10
LONDON (Alliance News) - Windows and doors maker Safestyle UK PLC Thursday said trading in the new financial year has begun well, with order intake and trading profits in the quarter both ahead of last year, and its own expectations.
In an annual general meeting statement to shareholders, the company said that trading so far in the second quarter to date also has been good, with increasing conversions leading to a satisfactory net order intake and a record order book.
"The board is confident that the company will show good progress in its first half results, for the period to June 30, 2014," Chairman Steve Halbert said in his statement.
The manufacturer and retailer - which listed on AIM in December last year - reported a 13% increase in revenues in 2013 to GBP124.8 million, as it gained market share, improved margins and the number of orders and instillations picked up,
Its pretax profit for the year was flat at GBP9.5 million, due to admission costs to AIM and the settlement of a historic tax planning scheme with UK tax authorities of GBP3.1 million. However, excluding costs relating to admission fees and the tax settlement, the group reported a pretax profit of GBP15.0 million, a 58% increase on the GBP9.5 million reported a year earlier.
Shares in Safestyle UK were up 2.9% at 190.93 pence Thursday early afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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