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Home safety products FireAngel said it expected to report positive earnings after upgrading its outlook on revenue on rising demand for connected products.
For the six months ended 30 June 2021, the company expected to report positive EBITDA of £0.3 million in the period, compared with an LBITDA £0.8 million.
Sales are expected to be 'materially' ahead of the first half last year, at approximately £22.3 million, up from £16.5 million last year, with a 'materially' reduced operating loss of approximately £1.3 million, an improvement on the £2.7 million last year.
'While COVID-19 restrictions combined with ongoing challenges in global supply chains reduced the ability to exploit fully the growing demand for FireAngel's connected products, the Board is pleased to have remained on track,' the company said.