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FireAngel Safety Technology Group PLC - Coventry-based home safety products maker - Says trading performance in the first half of 2022 is strong, with results expected to be ahead of the company's internal half-year budget. Expects sales of £25.6 million, up 15% against the previous year. Anticipates a loss better than the previously guided £1.6 million, though it did not specify a figure. Notes that supply chain disruptions eased over the half. As result of the strong momentum coming into the second half, the firm now expects to meet its full-year market expectations.
‘The board continues to expect a materially positive [earnings before interest, tax, depreciation and amortisation] performance for FY2022, along with a cash generative second half, thanks to strong product demand driven in part by continued regulation,’ said Chair John Conoley.
Current stock price: 12.40 pence, up 8.8% in London on Wednesday
12-month change: down 20%
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