Safestyle grows sales and order intake in spite of market decline

The Bradford company, famous for its TV adverts, said: “This is pleasing progress against a particularly strong Q1 2014, reflecting further growth in market share and the price increases introduced in January 2015.

“We expect a continuing strong sales performance in the second half of the year and remain confident of achieving full year results in line with board expectations.”

It said order intake grew by 7.1 per cent in the first half of the year against a market which, according to industry figures, contracted by 10.1 per cent.

Safestyle said: “This reported contraction is surprising and one which we will continue to monitor carefully.

“As a result, the company’s market share stands at a record 9.5 per cent for the first half of the year.”

Safestyle said cash flow continued to be strong and the business had net cash of £14.9m at June 30.

The company said growth in order intake has been reinforced by the launch of new finance propositions.

Steve Birmingham, CEO of Safestyle UK, said: “Trading in the first half has been good, showing growth against a very robust comparable period in 2014, especially the first quarter.

“With our strong order intake and growth in market share, we are well placed to continue our recent progress and we look forward to the second half with confidence.”

Analysts at Liberum Capital said: “Safestyle’s focus around its core business of replacement PVCu windows and doors has given it a leading value and service proposition.

“It is now UK market leader, having more than doubled market share to around 9 per cent in the last eight years.

“We believe that share gains will continue, helped by migration south, and we expect its market to start to participate in the wider repair, maintenance and improvement upturn.”