Safestyle UK PLC Key Supplier Update (6806Y)
September 11 2020 - 2:00AM
UK Regulatory
TIDMSFE
RNS Number : 6806Y
Safestyle UK PLC
11 September 2020
11 September 2020
Safestyle UK plc
("Safestyle" or the "Group")
Key Supplier Update
Safestyle UK plc (AIM: SFE), the leading retailer and
manufacturer of PVCu replacement windows and doors to the UK
homeowner market, today issues an update following an announcement
made by UK Window Group of which the Group's PVCu profile supplier
Duraflex is a part.
UK Window Group yesterday announced that certain assets of the
Company, including all assets utilised by Duraflex, have been sold
to a subsidiary of its current owners. This is part of a wider
strategic restructuring programme that it believes will secure the
long-term future of the Company with a much improved financial
position.
Safestyle has been working closely with the board of UK Window
Group and its owners over the last nine months as they have been
implementing a turnaround plan for their business. During this
process we have put in place a range of risk mitigation measures,
including building significant buffer stocks of window profiles.
This ensures the Group has sufficient stock in place to largely
mitigate the impact of a forced change in profile supplier.
Following this restructure by UK Window Group, the Board does
not anticipate any major interruption to our supply of PVCu
profiles. Supply chains generally remain stretched by recent good
levels of demand in the industry but these challenges will be
manageable over the coming months.
The Board will provide an update on the Group's recent trading
as part of our half year results announcement on 17 September
2020.
Enquiries:
Safestyle UK plc via FTI Consulting
Mike Gallacher, Chief Executive Officer
Rob Neale, Chief Financial Officer
Zeus Capital (Nominated Adviser & Joint Tel: 0203 829 5000
Broker)
Dan Bate / Daniel Harris / Dominic King
Liberum Capital Limited (Joint Broker) Tel: 0203 100 2100
Neil Patel / Jamie Richards
FTI Consulting (Financial PR) Tel: 0203 727 1000
Alex Beagley / James Styles / Sam Macpherson
About Safestyle UK plc
The Group is the leading retailer and manufacturer of PVCu
replacement windows and doors to the UK homeowner market. For more
information please visit www.safestyleukplc.co.uk or
www.safestyle-windows.co.uk.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDDGGDCGXBDGGG
(END) Dow Jones Newswires
September 11, 2020 02:00 ET (06:00 GMT)
Safestyle Uk (LSE:SFE)
Historical Stock Chart
From Sep 2024 to Oct 2024
Safestyle Uk (LSE:SFE)
Historical Stock Chart
From Oct 2023 to Oct 2024