Director dealings: Safestyle CEO ups stake

Safestyle revealed on Thursday that chief executive Michael Gallacher had acquired 120,240 ordinary shares in the AIM-listed replacement windows and doors retailer.

Gallacher, who took over as CEO back in May 2018, purchased the shares on Wednesday at an average price of 40.5p each, for a total value of £48,697.20.

Following the transaction, Gallacher has a beneficial interest in 320,240 ordinary Safestyle shares, representing 0.23% of the group's issued share capital.

On Wednesday, Safestyle warned that it expects to report a loss for the year ended 31 December despite returning to profit in the second half.

Safestyle expects full-year revenues to be over £113.0m, with second-half revenues up 15% year-on-year but still expects to post an underlying loss before taxation of approximately £4.7m due to the cessation of operations during the first nationwide Covid-19 lockdown.

As of 1650 GMT, Safestyle shares were up 3.69% at 40.70p.

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