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Safestyle UK revenue up 10% in year to date
StockMarketWire.com
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Replacement window and door manufacturer Safestyle UK said its revenue in the four months through April rose 10%, putting it on track to meet recently upgraded market expectations.
Compared to the same period in 2019, or two years ago, revenue was up 51%, chairman Alan Lovell said in speech notes for the company's annual general meeting.
'Due to the first lockdown in 2020 where no revenue was earnt for the entirety of April, we believe 2019 represents a more meaningful comparative,' Lovell said.
'Alongside this revenue performance, margins have improved markedly versus both comparative periods with the croup's margin-enhancing initiatives now contributing meaningfully to our financial results.'
'This improved margin performance is after the impact of cost inflation in resin, other materials and resource-related costs as a result of the current strong demand in our sector.'
At 9:47am: (LON:SFE) Safestyle UK PLC share price was 0p at 37.65p
Story provided by StockMarketWire.com
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