- Window and door manufacturer Safestyle UK downgraded its 2018 guidance after competition meant its order intake failed to meet its expectations.

The company had already warned of tough market conditions due to declining consumer confidence, but added that the situation had worsened due the activities of 'an aggressive new market entrant'.

Guidance for the year ended 31 December 2017 remained unchanged, but underlying profit for the current year would be 'materially below' 2017 levels and current market expectations.

'The group has reviewed and reduced its cost base and carried out the planned restructuring of its Sales and Canvass functions,' Safestyle said.

'The croup continues to invest in information technology to ensure it can deliver an enhanced end-to-end customer experience and improve operational efficiency.'

At 9:44am: [LON:SFE] Safestyle UK PLC share price was -35.2p at 116.8p

Story provided by