UK Housing shaky? Safestyle drops a profit warning.

[201p 4,422]

 

http://www.proactiveinvestors.co.uk/companies/news/183662/safestyle-uk-shares-shatter-on-second-profit-warning-in-as-many-months-183662.html

 

Safestyle UK plc (LON:SFE) shares were shattered today as double glazing group issued another profit warning, which underlined the flagging growth in the UK economy.

The warning is the group's second in as many months. In July, the firm said given a weak market and uncertainty, profit for the year was expected to be lower than previously forecast.

 

Profit warnings normally come in threes. Watch.

[Chewing Grass 16,941]

A blast from the past, one of the original double glazing companies establish in 1970 went bust in 2007.

Article is an interesting read and could have been written this week except its 10 years ago.

"We have been running on a loss of more than 3 million for the past two and a half years. We have tried to create a rescue package but no one will back it.

"The double-glazing business is coming to the end of its life, and sales have really struggled. The factory has been extremely slow.

http://www.sthelensreporter.co.uk/news/st-helens-glass-crippling-losses-revealed-1-730622

[spunko 23,122]

There is definitely something in the air, but it has been thus for at least a year now.