MARKET REPORT: Door and window-maker Safestylecrashes after profit shock

Logo Daily MailDaily Mail
2023-09-19 21:27:16  • 4 mins

Safestyle lost nearly half its value as it warned that results will be worse than feared amid a slump in demand.

Britains biggest maker and seller of doors and windows, which has installed frames and conservatories in England and Wales for more than three decades, usually expects its sales to surge from mid-August as customers prepare their homes for the colder months.

But its most important trading period of the year has been weaker than expected, with orders down around 11 per cent year-on-year.

Safestyle said volumes have fallen across the industry due to the tough economic conditions and a slowdown in the housing market.

The group has aimed to make savings by cutting shifts in its factory alongside allowing board members to voluntarily waive their pay.

But it warned this will not be enough to offset the short-term slump in demand.

As a result, Safestyle said it is now likely to make between 140million and 142million of revenue this year alongside a loss of 9.5million to 10.5million.

Continue read on

Russia Halts Diesel Exports Amid Winter Concerns and Energy Weaponization Concerns 11th largest daily U.S. corn sale | House faces looming gov't shutdown...
Logo Kitco NEWSKitco NEWS
2023-09-25 15:21:30  • 1 min
Investors are always looking to beat the market, searching for stocks that deliver consistent long-term gains. And perhaps to the surprise of some, many...
Logo NasdaqNasdaq
2023-09-25 23:24:00  • 1 min
The third-quarter was an average-to-downbeat period for investors, mainly due to rising rates. A cooling U.S. economy, falling consumer confidence, a series...
Logo NasdaqNasdaq
2023-09-25 16:45:00  • 1 min
Experts have expressed concern about commercial real estate properties and the impact higher interest rates could have on their refinance costs. CBRE Group,...
Logo NasdaqNasdaq
2023-09-26 11:06:00  • 1 min
Consumer stocks were mixed Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) dropping 0.5% and the Consumer Discretionary Select...
Logo NasdaqNasdaq
2023-09-25 17:44:03  • 1 min
By Cara Murez HealthDay Reporter TUESDAY, Sept. 26, 2023 (HealthDay News) -- Its always a good time to check your babys sleep space. The U.S. Consumer...
Logo U.S. News & World ReportU.S. News & World Report
2023-09-26 10:20:00  • 1 min
The following companies are expected to report earnings after hours on 09/25/2023. Visit our Earnings Calendar for a full list of expected earnings releases....
Logo NasdaqNasdaq
2023-09-25 18:00:02  • 1 min
Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today: JAKKS Pacific, Inc. JAKK : This company which develops, produces, markets, sells,...
Logo NasdaqNasdaq
2023-09-26 11:15:00  • 1 min
The all-electric 4-door Convertible GT Fisker Ronin is revealed during its inaugural "Product Vision Day" in Huntington Beach, California, on August 3, 2023....
2023-09-26 12:18:20  • 1 min
The third quarter proved to be highly volatile and uncertain for the U.S. stock market. After a solid start to the third quarter, Wall Street lost momentum...
Logo NasdaqNasdaq
2023-09-25 15:10:00  • 2 mins
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on July 28,...
Logo NasdaqNasdaq
2023-09-25 15:12:58  • 1 min
For Immediate Release Chicago, IL September 25, 2023 Today, Zacks Equity Research discusses O'Reilly Automotive ORLY and AutoZone AZO. Industry: Auto Parts...
Logo NasdaqNasdaq
2023-09-25 12:46:00  • 1 min
Fintel reports that on September 25, 2023, B of A Securities maintained coverage of Soho House & Co Inc ( NYSE:SHCO ) with a Buy recommendation. Analyst...
Logo NasdaqNasdaq
2023-09-25 20:35:52  • 1 min
For Immediate Release Chicago, IL September 25, 2023 announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research...
Wall Street took a cruel step back last week. I thought my three stocks to avoid for that week -- Stitch Fix, Steelcase, and Carvana -- were going to lose to...
Logo NasdaqNasdaq
2023-09-25 12:00:00  • 1 min
The stock market has had plenty of great trading days in 2023, but the volatility of the 2022 stock market has persisted. Even as promising economic data...
Logo NasdaqNasdaq
2023-09-25 16:22:41  • 2 mins
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock,...
Logo NasdaqNasdaq
2023-09-25 17:42:30  • 1 min
Best News Website or Mobile Service WAN-IFRA Digital Media Awards Worldwide 2022 Best News Website or Mobile Service Digital Media Awards Worldwide 2022...
Fintel reports that on September 25, 2023, Citigroup upgraded their outlook for Steel Dynamics ( NASDAQ:STLD ) from Neutral to Buy. Analyst Price Forecast...
Logo NasdaqNasdaq
2023-09-25 22:53:28  • 1 min
Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the...
Logo NasdaqNasdaq
2023-09-25 16:20:50  • 1 min