Safestyle turnaround on track as revenue rises

Bradford-based window and door company Safestyle UK said on Friday it continues to make progress on phase two of its turnaround plan with revenues for the first half of the year expected to rise 6.4% to £64.4 million.

In a trading update for the six months ended June 30, 2019, Safestyle said: “Since the group’s AGM statement on 16 May 2019, management has continued to make progress on phase two of its turnaround plan which is focused on recovering volumes and market share, restoring operational effectiveness, reducing costs and enhancing margins.  

“As expected, the first half of the year will result in a small loss, but despite a challenging market where consumer demand appears soft, the group remains on track to deliver a small profit for the full year which is in line with current market expectations.

“In the first half of the year, the group continued to rebuild its order book and as a result, revenues for the period will be c.£64.4m, 6.4% higher than H1 2018 with May and June being c.15% higher than the same months in 2018 …”

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