Sales grow 12% to £124m for newly listed Safestyle

PVCu windows manufacturer and retailer Safestyle UK, which floated on AIM in early December, has  reported a strong performance in its first trading update  – with 2013 revenues up 12% to £124m.

The Bradford-headquartered company the only stock market quoted double glazing business in the UK, joined AIM with an initial market capitalisation of around £77m, making it the second largest AIM flotation of 2013.

The business, which employs 600 staff at factories in Bradford and Barnsley, today said its market share had also increased to 7.85% for the year to the end of December 2013 (2012: 7.49%), its first year of growth since 2007, and added that profits will be inline with management expectations.

Manufacturing increased, with 250,185 frames produced during the period (2012: 232,687 frames) whilst the number of installations increased by 9.4 % to 55,112 (2012: 50,357).

Meanwhile, the first three weeks of 2014 have also got off to a “positive start”, with order intake exceeding management expectations, it said.
 
Fully audited results for 2013 will be announced at the end of March.