Fitbug, Faron and Schroder REIT

“The FTSE 100 started the week firmly in the red taking its cue from Asian markets which fell sharply on weak economic growth data from China and declining oil prices, while the EU referendum debate heats up with polls showing a late swing towards Brexit,” says AJ Bell Investment Director Russ Mould.

Fitbug’s shares plunged in early trading as the health-focused wearable technology developer’s revenues fell and pre-tax losses jumped. The latest figures include losses associated with the shift in the group’s strategy from one which was focused on going direct to consumers to a business-to-business model. Fitbug found the previous strategy unsustainable and has made an encouraging start to the current financial year with first quarter sales in the corporate wellness sector significantly up on a year ago.

Faron Pharmaceuticals has agreed a licensing deal with Pharmbio Korea for the development and commercialisation of Traumakine in Korea. Traumakine is in development for the treatment of acute respiratory distress syndrome, a rare, severe, life threatening medical condition for which there is currently no approved pharmaceutical treatment. Traumakine is now in a pivotal pan-European phase III trial.

Schroder REIT’s pre-tax profits fell to £36.3m, from £55.1m in the year to the end of March but expects the UK commercial real estate sector to continue to offer attractive returns. As income becomes a larger component of total returns it expects greater polarisation across the market because winning centres and locations will benefit most.”

These articles are for information purposes only and are not a personal recommendation or advice.