REPLACEMENT doors and windows specialist Safestyle UK is confident of outperforming the market in 2015 after a strong first year as a quoted company.

The Bradford-based manufacturer and installation group became the UK’s only stock market-quoted double glazing business through a £70 million float on the Alternative Investment Market in 2013.

In a trading update, Safestyle said revenues in the year to December 31, 2014 rose by nine per cent to around £136 million, against £124.8 million the previous year.

Pre-tax profits are expected to be in line with market expectations.

Safestyle continued to increase its market share from 7.85 per cent a year earlier to 8.48 per cent , according to data from trade body FENSA, which showed a small contraction in the overall market last year.

Safestyle’s growth also included a seven per cent increase in frames manufactured to 267,642, while the number of installations increased by 4.7 per cent to 57,682. The year-end order book was three per cent up on 2013.

Cash flow remained strong and the business ended 2014 with cash of £8.5million, against £5.2 million at the end of 2013, having paid dividends of £6.7million the second half of 2014.

Steve Birmingham, Safestyle UK chief executive, said: “Trading in our first full financial year as a quoted company has been strong. The results for the year, with growth in revenue, profit and market share, has largely been driven by our marketing strategy where we have successfully developed a more sophisticated multi-channel approach to connect with our current and potential customers, reflecting changing buying habits.

“We continue to focus on the South of England as a key driver of growth. Looking forward we are confident that we can continue to outperform the market in 2015.”

l MEANWHILE, Morrisons new chairman Andrew Higginson has said, whoever is appointed to replace Dalton Philips as chief executive, it could take up to five years to get the Bradford-based supermarket chain “back to full health” .

He told a Sunday newspaper that there was “nothing magical” required from the new chief executive to improve Morrisons’ fortunes.

Mr Higginson said: “To be frank this isn’t an issue of strategy, it’s about execution and delivering.

“This is not a kind of messiah strategy where someone comes in and everyone goes ‘ah!”’ and the thing is all right. It’s about the hard work of the team, trying to encourage more customers to come to your stores.”

Several former Tesco executives are reportedly contenders to replace Mr Philips who will leave in March. Mr Higginson is himself a former senior Tesco man having spent 14 years at the group.