Member Article

Future looks bright for Bradford’s Safestyle UK as Southern expansion continues

Bradford-based window manufacturer and retailer Safestyle UK plc has reported an impressive year, with revenue for the year increasing 9% to approximately £136.0 million (2013: £124.8 million).

In addition, the firm has said that profit before tax “has shown good progress” and is anticipated to be in line with market expectations, which are at £16.7 million (2013: £15.0 million before AIM admission costs and historic tax settlement).

The company says it has continued to increase market share from 7.9% as at 31 December 2013 to 8.5% at 31 December 2014, according to FENSA data, which shows a small contraction in the overall market in 2014.

The firm has also seen an increase in frames manufactured during the year, up 7% to 267,642 (2013: 250,185 frames), whilst the number of installations increased 4.7% to 57,682 (2013: 55,112). The order book at the year end was 3% up on last year.

Cash flow has continued to be strong and we ended the year with cash of £8.5 million, compared with £5.2 million at 31 December 2013, having paid dividends of £6.7 million in H2 2014.

Steve Birmingham, CEO of Safestyle UK, commented:“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.

“We continue to focus on the South of England as a key driver of growth. Looking forward we are confident that we can continue to outperform the market in 2015.”

This was posted in Bdaily's Members' News section by Clare Burnett .