Safestyle's interim profit and revenue rise on higher sales

PVC retailer and manufacturer Safestyle UK posted a growth in interim profit, as revenue increase on the back of rise in the volume of frames installed.

In the six months to 30 June, the London-listed company posted a 2.3% year-on-year increase in pre-tax profit to £8.8m, while revenue rose 6.9% to £74m.

Safestyle said a growth in leads deriving from media and online marketing, as well as an increase in the average unit price and in the volume of frames installed resulted in an increase in sales in the period.

"We continue to execute our strategies of increasing market share and geographic expansion and, although wider market conditions remain subdued, we have entered the second half of 2015 in a strong position," said group chief executive Steve Birmingham.

The group said order intake since the half year has been buoyant, helped by its recently introduced conservatory upgrade product which is gaining momentum.

“We remain confident of delivering a full year outturn in line with market expectations," Birmingham added.

The company raised its interim dividend 9.7% to 3.4p.

Safestyle shares were down 4.59% to 234.71p at 0908 BST on Thursday.