TIDMSFE

RNS Number : 7992Z

Safestyle UK PLC

18 May 2023

18 May 2023

Safestyle UK plc

("Safestyle" or the "Group")

AGM Statement

Alan Lovell, Chairman of Safestyle UK plc, the leading UK focused retailer and manufacturer of PVCu replacement windows and doors for the homeowner market, will make the following statement at today's Annual General Meeting:

Our trading has remained in line with recently revised expectations outlined at our Final Results in March. We have maintained the price increases enacted late last year to mitigate input cost inflation. Recently, we have slowed the rate of further price progression as input cost increases have begun to moderate and we are actively managing the balance between lead conversion/volume and price progression.

Investment in our strategic agenda has continued as we launched a material TV and radio campaign across February and March and pleasingly have seen further increases in our brand awareness which we are confident will underpin our growth aspirations for the medium-term.

Beyond brand, the business continues to make progress on its other key strategic objectives, and we look forward to providing a more detailed update at our Interim Results in September.

The Group is on track with its programme to reduce its cost base and improve margins. The Board expects these will positively impact the underlying performance of the business as the year progresses and consequently, guidance for the full year remains unchanged.

Enquiries:

 
 Safestyle UK plc                              via FTI Consulting 
  Rob Neale, Chief Executive Officer 
  Phil Joyner, Chief Financial Officer 
 Zeus (Nominated Adviser & Joint Broker)       Tel: 0203 829 5000 
  Dan Bate / James Edis (Investment Banking) 
  Dominic King (Corporate Broking) 
 Liberum Capital Limited (Joint Broker)        Tel: 0203 100 2000 
  Jamie Richards / William King 
 FTI Consulting (Financial PR)                 Tel: 0203 727 1000 
  Alex Beagley / Sam Macpherson / Amy Goldup

About Safestyle UK plc

The Group is the leading retailer and manufacturer of PVCu replacement windows and doors to the UK homeowner market. For more information please visit www.safestyleukplc.co.uk or www.safestyle-windows.co.uk .

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END

AGMARMPTMTIBBLJ

(END) Dow Jones Newswires

May 18, 2023 02:00 ET (06:00 GMT)

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