StockMarketWire.com - Safestyle, a retailer and manufacturer of PVCu windows and doors, saw its pre-tax profit fall by 7.4% to £8.8 million in the first half with revenue growth of just 1.4% to £82.5 million.

Underlying pre-tax profit (earnings before tax and share-based payments charges) fell 15.1% to £9 million.

The volume of frames installed fell by 6.8% but the average unit sales price rose by 6%.

Steve Birmingham, chief executive, said the first half saw the severest contraction of the market since 2008/09. "So far in H2 we have maintained our order intake in line with the previous year and have already commenced a number of initiatives to reduce our cost base.

"The group's cash conversion and balance sheet remain strong and the board is confident of outperforming the market and gaining market share based on our differentiators of price competitiveness, promotional finance offers, quality energy efficient products and outstanding manufacturing capability," he added.



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