Safestyle shrugs off Brexit worries as orders continue to push figures upward

The Bradford-based PVC window and door maker said order intake rose 20 per cent in the six months to June 30 whilst sales rose 13 per cent to £84m.

The group said it has continued to trade in line with its enhanced expectations for the current year and market data shows the group has increased its market share to 10 per cent from 9.5 per cent.

The group said its order book increased significantly during the first half of the year.

Safestyle’s CEO Steve Birmingham said: “We are very pleased with our performance in the first half of this year.

“Whilst the longer term impact of the referendum decision on the broader economy remains to be seen, there has been no short-term detrimental effect on our order intake.

“The company has a proven successful model, with a growth strategy underpinned by a combination of our expanded product range, attractive promotional finance package, continued geographic expansion and financial strength. As a result, the board remains confident in our ability to continue to outperform the market and achieve full year results in line with management expectations.”

Analyst Charlie Campbell at Liberum said: “Management has seen no impact on order intake since the referendum, with order growth continuing in the second half in spite of toughening comparatives. Management is confident of achieving its targets for the year and we leave our estimates unchanged.

“Safestyle remains one of our preferred building material companies as we expect market share momentum to be maintained.”