Safestyle orders rebound post-lockdown

(Sharecast News) - Window and door manufacturer Safestyle said on Friday that it had experienced a strong rebound in order intake post-lockdown.
Safestyle said order intake for the eight weeks ended 25 May was 23.2% higher year-on-year, while the group's order book carried into the second half was 45% ahead of the prior year.

The AIM-listed firm said despite disruptions caused by the Covid-19 pandemic, it was profitable for the months of January, February and June.

Safestyle, which restarted operations in mid-May, said consumer demand was ahead of expectations but noted that it was not yet clear whether its recent performance was sustainable in "an environment where confidence and consumer demand remain uncertain".

Chief executive Mike Gallacher said: "Our view is that the combination of deferred lockdown demand and a major shift in consumer spend from travel and leisure to home improvement have driven the increased demand we have experienced.

"Despite very good levels of current consumer demand the medium term economic outlook remains uncertain. We will therefore maintain a balanced approach, seeking to grow the business while keeping our costs controlled and net cash position positive."

As of 0925 BST, Safestyle shares were up 3.66% at 28.30p.