Safestyle has continued its five-year high with full financial year results carrying on its strong half-year figures, tinged by a hint of caution over the impact of the cost-of-of living crisis.
CEO Mike Gallacher summarised: “Despite the continued uncertainty caused by the pandemic as well as the widely-documented supply chain and inflationary pressures, I am delighted we have been able to deliver our best financial performance since 2017 and make significant progress against our stated strategic objectives.
The Group’s underlying profit before tax for the year represents a £16.4m turnaround from 2018’s underlying losses as we continued to improve margins and deliver growth. The strong performance of the business in 2021 made the cyber attack in January 2022 even more frustrating, however our previous investments in upgrading IT systems proved invaluable in helping to mitigate the worst of its impacts.
Looking ahead, the Group will continue to proactively manage cost-inflation, however we expect consumer confidence to be impacted by the ongoing cost-of-living crisis. Pleasingly, our record-level order book will allow us to smooth the impact of any short term slowing of demand. Notwithstanding the factors above, the Board and I remain positive on the outlook for 2022 as the business emerges transformed after four very challenging years and continues its return to our historically strong financial performance and growth.”