StockMarketWire.com - Safestyle UK notes strong trading in 2016 with another year of record turnover, but adds that, as expected, its H2 produced slower growth than in H1 due to more challenging comparatives.

The UK-focused retailer and manufacturer of PVCu windows and doors for the homeowner market said FY revenue improved 9.8% to about £163.5m.

"In addition, profit before tax has shown good progress and is in line with board expectations. As expected, our second half showed slower growth than H1 due to more challenging comparatives," the company said.

"Our performance in 2016 has been pleasing and we estimate that we have continued to gain market share."

Safestyle UK said its growth was reflected in the increase in frames manufactured during the year, up 3.2% to 288,460, whilst the number of installations rose 4.7% to 62,989.

"Price increases implemented at the start of 2016 helped us deliver improved operating margins, offsetting consumer finance subsidy costs, which have become an established feature of our cost base," the company said.

Cash flow had continued to be strong and Safestyle UK ended the year with cash of £13.5m, having paid a special dividend during the year of £5.6m and incurred £4.6m of expenditure on its new factory extension, which continued to be on time and on budget.






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