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Safestyle UK – in less than 8 weeks from “net cash position at the end of the year is still expected” to even its debt facilities are to prove insufficient!

By Steve Moore | Tuesday 19 September 2023

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Most recently writing on windows and doors manufacturer and retailer Safestyle UK (SFE), in July with the shares slumping to around 10p I concluded that ‘the company reckons “the net cash position at the end of the year is still expected to be positive”, I reckon it is on trend for its borrowing facility to need to be ‘accessible’ and, even at a now down to £14 million market cap, at this juncture still avoid/sell’. Now a further “Trading Update”… and the shares further slumping from a prior close 8.3p to currently below 5p. What’s its update now?

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