Lifesafe upwardly revises FY revenue guidance

Fire safety technology business Lifesafe said on Tuesday that sales growth through its consumer channels had "materially exceeded" expectations in the eleven months ended 30 November.

Lifesafe stated that revenue was now above current market guidance of £3.0m for the full year, leading it to upwardly revised expectation to between £3.5m and £3.8m.

The AIM-listed group said the increase in revenues had been, and continued to be, generated through its "innovative product range", and "effective marketing strategy" across its consumer sales channels, with "particularly strong growth" in the US.

Moving forward, Lifesafe also said short-term logistics costs were expected to be higher than budgeted in the remainder of 2022 as the group works to meet growing demand and ensure that stock will be made available in the first months of 2023.

"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," said Lifesafe.

As of 1040 GMT, Lifesafe shares were untraded at 46.0p.

Reporting by Iain Gilbert at Sharecast.com