Safestyle UK is expecting to report revenues up by around 7.7% to c£154.3million for 2022 and an underlying loss before tax in line with market expectations, according to its trading update.
The retailer adds that its transition to Liniar as its PVCu profile supplier ( https://www.the-glazine.com/?p=7546 ) was completed on time and on budget over the Christmas period.
The Board expects that trading conditions will remain reasonably challenging in the short-term given the wider consumer environment, the report continues. However, its order book at the end of last month was marginally higher than at the same time last year.
“The Board is also confident that the Group’s proposition will combine well with what has historically proven to be a resilient sector supported by an ongoing focus on energy-saving products by consumers.”
Rob Neale, who took over as chief executive in December, added: “Despite a number of unforeseen challenges in 2022, I am pleased with the significant progress we delivered on our strategic priorities and whilst we remain mindful of the difficulties facing UK consumers, we are confident that our business will continue to trade resiliently and return to profitability in 2023.”
The group’s final results for the period are due on March 23.
