StockMarketWire.com - Replacement window and door manufacturer Safestyle said it expected to post a deeper underlying annual loss, despite returning to profit in the second half.

Underlying pre-tax losses for the year through December would amount to around £4.7 million, compared to the £1.5 million booked for 2019.

Revenue was seen falling to 'over £113 million', compared to £126.2 million in 2019, with revenue having risen 15% in the second half.

Safestyle said that in early January in the current year, in response to the current national lockdown, it had temporarily ceased in-home selling and door canvass operations.

It had, however, started in-home selling in February though door canvass operations remained temporarily halted.

The company had maintained remote sales appointments through January and had an order book going into the new year over 80% higher than 2019's closing position.

'Whilst the group continues to make use of the healthy order book built during the second half of 2020, the interruption of in-home sales at the start of the new financial year has had some impact on further order intake momentum,' Safestay said.

'But critically, using strict and effective Covid-safe policies, the group has been able to maintain healthy revenue levels thus far in 2021 as its manufacturing and installation operations continue.'

'The restart of in-home selling in February presents an opportunity for the group to regain the strong order intake momentum established in the second half of 2020.'

'The business is optimistic that door canvass operations will be allowed to restart during the second quarter of 2021 as the UK moves out of the current lockdown.'

'Given the group's strong order book and installation pipeline, the Board expects to make good progress in 2021.'


At 8:05am: [LON:SFE] Safestyle UK PLC share price was 0p at 37.65p



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