Safestyle reported today a good set of results for the the six months ended 30 June, which showed that the British group is on track to deliver value to its shareholders.
Highlights
· Market share grew to 9.5% at 30 June 2015 from 8.5% at end of 2014
· Leads generated from media and online marketing grew by 12% to 31,095 (H1 2014: 27,762)
· Average unit sales price up 2.8% to £517 (FY 2014: £503)
· Pre-tax operating cash flow of £8.7m
· Successful launch of new conservatory refurbishment offering
Financials
Underlying Ebitda growth was a touch light, but growth in revenues and EPS suggest that the group should conformably meet estimates by the end of the year.
(All figures in £m)
| 6m ended
30 June ’15 |
6m ended 30 June ’14 |
||
|
Revenue |
74.0 |
69.2 |
+6.9% |
|
Gross profit |
27.6 |
25.2 |
+9.5% |
|
Gross margin % |
37.2% |
36.4% |
+0.8% |
|
Underlying EBITDA* |
9.5 |
9.3 |
+2.2% |
|
Underlying PBT** |
9.0 |
8.8 |
+2.3% |
|
EPS – Basic |
9.1p |
8.5p |
+7.1% |
|
Interim Dividend |
3.4p |
3.1p |
+9.7% |
To read out previous coverage of Safestyle, please click here.
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(Alessandro Pasetti and Hedging Beta are not invested in any of the shares mentioned in this article.)