LifeSafe Holdings PLC Trading Update (6296I)
December 06 2022 - 1:00AM
UK Regulatory
TIDMLIFS
RNS Number : 6296I
LifeSafe Holdings PLC
06 December 2022
For immediate release 6 December 2022
LifeSafe Holdings plc
('LifeSafe', the 'Group' or the 'Company')
Trading Update
'FY22 revenue expected to be significantly ahead of
expectations'
LifeSafe (AIM:LIFS), a fire safety technology business with
innovative fire extinguishing fluid and fire safety products,
provides the following trading update for the eleven month period
ended 30 November 2022.
The Board is delighted to report that sales growth through the
Group's consumer channels has materially exceeded its expectations
in the eleven months to 30 November 2022. Revenue in that period is
now above current market guidance of GBP3.0 million for the full
year ending 31 December 2022 ("FY22").
The Board has therefore upwardly revised its expectation of FY22
revenue to between GBP3.5 million and GBP3.8 million.
This increase in revenues has been, and continues to be,
generated through the Group's innovative product range, and
effective marketing strategy across LifeSafe's consumer sales
channels, with particularly strong growth in the US.
In order to meet the growing demand, and to ensure that stock is
available in the first months of 2023, short term logistics costs
are expected to be higher than budgeted in the remainder of 2022.
Taking into account also the increased marketing costs to generate
the higher sales, the Board currently anticipates that EBITDA for
the full year will be in line with current market expectations.
LifeSafe will provide a further trading update in late January
2023 once the impact of trading in the busy Christmas period is
known.
Commenting on the Trading Update, Dominic Berger, Chairman of
LifeSafe, said: "It is extremely pleasing to see that the execution
of the Board's strategy is having such a positive impact on the
Group's performance.
"Our initial investment has delivered these strong sales which
is not only extremely positive for FY22 but also highly exciting
for FY23 and beyond. As we continue to grow the business by
expanding our innovative fire extinguishing offering into the
wholesale and industrial markets, we believe that shareholder value
will be further enhanced."
- Ends -
This announcement contains inside information for the purposes
of Article 7 of the UK version of Regulation (EU) No 596/2014 which
is part of UK law by virtue of the European Union (Withdrawal) Act
2018, as amended ("MAR"). Upon the publication of this announcement
via a Regulatory Information Service, this inside information is
now considered to be in the public domain.
The person responsible for arranging the release of this
announcement on behalf of the Company is Mike Stilwell, Chief
Financial Officer of the Company.
For further enquiries:
LifeSafe Holdings plc Via Buchanan
Dominic Berger, Chairman www.lifesafeholdingsplc.com
Neil Smith, CEO
Mike Stilwell, CFO
WH Ireland Limited (Nominated Tel: +44 (0) 20 7220 1666
Adviser & Broker)
Chris Fielding
Darshan Patel
Buchanan (Financial Communications) Tel: +44 (0) 20 7466 5000
Henry Harrison-Topham LifeSafe@buchanan.uk.com
Jack Devoy
George Cleary
Notes to Editors
LifeSafe is a fire safety technology business that develops
eco-friendly, novel and innovative fire extinguishing fluids with a
range of life-saving fire safety products. LifeSafe has a highly
experienced management team which is seeking to create new markets
for the Group in fire safety through new technologies, digital
marketing and multi-channel sales.
LifeSafe has developed what the Directors believe to be a market
disrupting range of eco-friendly fire safety protection products to
both protect (via fire extinguishers) and detect (via carbon
monoxide, smoke and heat alarms) fires. At the centre of the
Group's product range is the FER1000 extinguishing fluid, for which
the Group has been granted a patent in the UK. The FER1000 fluid
has been developed by LifeSafe to extinguish five different types
of fire: electrical, paper, textiles, cooking oil, and petrol and
diesel.
The Group's best-selling product using this extinguishing fluid
is the StaySafe 5-in-1 fire extinguisher. It was launched on Amazon
Prime in the UK in August 2021 and subsequently became Amazon
Prime's top-selling fire extinguisher in the UK in the same month.
The StaySafe 5-in-1 and the PanSafe pan fire extinguisher were
launched in Screwfix in Spring 2022 with the StaySafe range of
smoke, heat and carbon monoxide detectors.
LifeSafe is developing new fluid derivations and products for
launch in 2023.
LifeSafe was admitted to trading on AIM in July 2022 with the
ticker LIFS.L. For additional information please visit
https://www.lifesafeholdingsplc.com .
LinkedIn:
https://www.linkedin.com/company/lifesafe-technologies
Twitter: https://twitter.com/LifesafeT
- Ends -
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END
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