Safestyle’s update confirms that trading has been strong, with revenues 10% ahead of 2019 in the first four months. Its margins are up markedly against 2019 and 2020 as its self-improvement measures have delivered. Safestyle has maintained its strong order book, up 83% at the start of the year, defying our expectation that it would shrink. Cost increases have been passed on and self-improvement measures have more to offer. We leave our ambitious estimates unchanged but raise our target price to 80p as we are more confident on margin improvement.
- 1 Macro Analysis/Global G7 reiterates support for SDR allocation and seeks to boost its impact
- 2 Strategy Note/Global G7's 'Build Back Better World' is not an answer to China's Belt and Road
- 3 Strategy Note/Vietnam Vietnam: The best emerging market is still spoilt by foreign ownership limits
- 4 Macro Analysis/Pakistan Pakistan's FY22 Federal Budget – Serious push on growth
- 5 Strategy Note/Global Egypt's military spend is not securing the Nile in its dispute with Ethiopia
This publication is being distributed by Tellimer solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not con...