Share offer to plug hole caused by ‘very challenging year’
FireAngel plans to raise £6m to "accelerate recovery" after recording substantial losses last year.
The home safety products business, which used to be known as Sprue Aegis, endured a difficult 2018.
Financial figures published today set out a £5.9m pre-tax loss, compared with a small, six-figure profit in 2017. Revenues were down 31% to £37.6m.
It blamed poor sales in Europe, which was caused mainly by overstocking in Germany in 2017, the ongoing impact of its dispute with BRK, and supply chain problems.
However the Co... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
