Lifesafe underlying losses narrow in FY24

(Sharecast News) - Fire safety technology firm Lifesafe said on Thursday that its FY24 trading performance was set to be in line with internal expectations. Lifesafe said FY24 revenues were expected to be approximately £3.3m, while the company's underlying loss was expected to be approximately £700,000, representing "a significant improvement" on the previous year's LBITDA of £1.4m.

Overheads were reduced by 43% year-on-year to £2.7m, with marketing costs and warehousing and logistics costs decreasing by 64% and 66%, respectively.

Lifesafe also noted that "significant savings" had been made at the gross margin level, through reduced fulfilment and commission charges, while overheads decreased mainly through reduced marketing and logistics costs.

Chairman Dominic Berger said: "Our marketing investment in 2023 successfully enabled us to sign up new wholesale partners in the US in early 2024 which has resulted in significant savings in our overheads driving the business towards profitability."

As of 1325 GMT, Lifesafe shares were down 5.33% at 7.10p.









Reporting by Iain Gilbert at Sharecast.com