LifeSafe ups full-year revenue guidance on strong growth in US

Alliance News

(Alliance News) - LifeSafe Holdings PLC on Tuesday upped its full-year revenue guidance, as it expects 2022 revenue to be "significantly" ahead of expectations.

The Essex, England-based fire safety technology firm said that sales growth in the 11 months to November 30 has "materially exceeded" expectations. Further, revenue in the period is now above current market guidance of GBP3.0 million for all of 2022.

LifeSafe explained: "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."

Based on this, LifeSafe now expects revenue to be between GBP3.5 million and GBP3.8 million. In 2021, LifeSafe reported revenue of GBP670,000.

However, it noted that short-term logistics costs are expected to be higher than budgeted in the remainder of 2022, in order to meet growing demand and ensure that stock is available in the first months of 2023.

Taking into account also the increased marketing costs to generate the higher sales, the company expects earnings before interest, tax, depreciation and amortisation for the full year to be in line with market expectations.

LifeSafe added that it will provide a further trading update in late January 2023 once the impact of trading in the busy Christmas period is known.

Chair Dominic Berger said: "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."

LifeSafe shares were flat at 46.00 pence in London on Tuesday morning. The stock is down 39% from its initial public offering price back in July of 75p.

By Sophie Rose, Alliance News reporter

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