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FireAngel sees improved performance as lockdown measures ease; narrows losses in H1

By BFN News | 09:33 AM | Tuesday 29 September, 2020


Home safety product developer and supplier FireAngel said performance had continued to improve as lockdown measures eased. The company also reported narrrower first-half losses as cost cuts offset a fall in revenue. For the six months ended 30 June 2020, pre-tax losses narrowed to £3.0 million from £3.6 million year-on-year as revenue fell to £16.5 million from £20.7 million. Following the easing of restrictions, the company saw improved performance, with revenue in August 2020 significantly ahead of last year's comparative, representing 'the flow through of an element of pent up demand and some normality returning to customer behaviour,' Fire Angel said. 'September 2020 sales ewer expected to be the highest of any month so far this year with year-to-date revenue to 30 September 2020 expected to be around 75% of the Board's pre-COVID-19 budget,' it added. At 9:33am: (LON:FA.) Fireangel Safety Technology Group Plc Ord 2p share price was -0.25p at 13p Story provided by StockMarketWire.com

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