26th Jan 2015 08:10
LONDON (Alliance News) - Windows and doors maker Safestyle UK PLC Monday said it will report growth in both revenue and profits for 2014, in line with market expectations, helped by market share gains and growth in its order book.
Safestyle said 2014 revenue is up around 9% year-on-year at GBP136 million, driving an increase in its pretax profit, which according to consensus market expectations is expected to be around GBP16.7 million for 2014, before share based payments, up from GBP15 million in 2013.
Profit and revenue growth was boosted by market share gains, increasing to 8.48% at the end of December, compared with 7.85% a year earlier. It said it saw a 7% increase in frames manufactured during the year, while the number of installations increased by 4%. The company said its order book at year end was up 3% on the previous year.
"Trading in our first full financial year as a quoted company has been strong. The results for the year, with growth in revenue, profit and market share, has largely been driven by our marketing strategy where we have successfully developed a more sophisticated multi-channel approach to connect with our current and potential customers, reflecting changing buying habits," said chief Executive Steve Birmingham in a statement.
Last year, Birmingham told Alliance News that Safestyle's tried and tested marketing route of door-step canvassing followed by a telephone call resulting in a sales visit, had begun to change, as the internet offers a differentiated way to generate leads.
Safestyle said Monday that its focus will remain on the South of England, currently its key driver of growth.
"Looking forward we are confident that we can continue to outperform the market in 2015," said Birmingham.
Safestyle said its cash flow continues to be strong, ending the year with around GBP8.5 million in cash.
The company said it will release its 2014 results on march 26.
Safestyle shares were up 2.9% at 179.46 pence in early trading Monday.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
SFE.L