FireAngel investors not so hot on its results

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FireAngel investors not so hot on its results
Master Investor Magazine

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Shares in AIM-listed home safety firm FireAngel SafetyTech (LON:FA.) dropped by 4.59% to 14.55p (as of 15:20 GMT) as sales for the year rose by 20%. The business’ operating loss increased in line with expectations.

Executive chairman John Conoley commented: “FireAngel’s results continue to be negatively impacted by legacy issues as a result of certain historically poor internal processes. However, the strategic decision to invest heavily in future technology is proving to be correct. The fruits of the investment made in connected technology are now beginning to come through in successful real-world trials, the financial benefits of which are expected to be realised in the short, medium and long term. We look forward to providing further updates at the time of our full year results“.

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