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FireAngel sees annual sales fall on pandemic impact
StockMarketWire.com
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Home safety products supplier and developer FireAngel said annual sales were expected to decline this year following the impact of the pandemic.
The company added that the recovery in the its markets in the second half of the year and subsequent positive trading trajectory had been 'encouraging.'
Sales for the year were expected to be approximately £39.9 million, down from £45.5 million.
Stock at 31 December 2020 stood at approximately £6.6 million, up from £6.3 million, but 'significantly' reduced from £9.4 million at 30 June 2020,' the company said.
'Notwithstanding the enhanced lockdowns in the various markets we sell in, trading in January is in line with the board's expectations,' it added. 'Despite the obvious Covid-19 related uncertainty, the board is targeting improved performance and sales growth in 2021 versus 2020.'
Story provided by StockMarketWire.com
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