FireAngel narrows first-half losses as revenue jumps

Mon, 27th Sep 2021

Home safety products maker FireAngel reported narrower first-half losses as rise in revenue and margin bolstered performance. For the six months ended 30 June 2021, pre-tax profit losses narrowed to £1.7 million from £3.0 million year-on-year as revenue rose 35.0% to £22.2 million. Gross margin increased 130 basis points to 23.5% from 22.2%, in line with the board's expectations. Looking ahead, the company said it was on track to meet market expectations for the year, but was cautious on its H2 outlook 'given the current global supply chain challenges being felt across the industry.' Story provided by StockMarketWire.com

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