Safestyle UK: Bradford-based windows firm issues profits warning
GoogleA double-glazing windows and doors firm has announced the departure of its chairman amid warnings about the company's profits.
Safestyle UK, based in Bradford, West Yorkshire, said "aggressive" new competition in the market was eating into its customer base.
It also pointed to declining consumer confidence.
The company expected 2018 revenue and pre-tax profits to be "significantly below current market expectations".
"The group has taken longer to rebuild its order intake to the rate previously anticipated, and has also experienced cost increases as management takes the necessary actions to address these challenges," a company spokesperson said.
Safestyle UK said chairman Steve Halbert had resigned from its board with immediate effect.
Peter Richardson, who has been appointed as his replacement, said: "I am now looking forward to working with the board and the executive team during what is a challenging period for the group as it undertakes a number of actions to emerge as a stronger, fitter, more agile business."
The firm, founded in 1992, has an 18-acre glass processing site in Wombwell, South Yorkshire, which employs 600 staff.