StockMarketWire.com - Safestyle UK said order intake has declined beyond the Board's expectations, affecting the group's margin performance and leading to a material impact on full year profits.

The Board believes this is due to an accelerating weakness in the market resulting from increasing consumer caution, as evidenced by the latest FENSA statistics, which show that the overall market has deteriorated further, with installations down by 18% in June and July compared to 2016.

The group announced on 18 July 2017 that given the uncertain market conditions and weaker consumer confidence it anticipated profit for the year would be lower than previously expected and broadly in line with 2016.

Safestyle has continued to grow market share and remains well positioned in the event of a market recovery. However, given the marked change in market conditions, we now expect Full Year 2017 Group revenues to be flat year on year.

The group remains cash generative, with a significant cash balance and a robust balance sheet.

The group will announce its interim results on 21 September 2017.



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