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Sprue Aegis swings to loss in H1

FireAngel Safety Technology Group plc said its first-half normalized net income was a loss of 1 Great British pence per share, compared with 12 pence per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of £584,380, compared with income of £5.5 million in the year-earlier period.

Total revenue declined 54.1% on an annual basis to £25.9 million from £56.5 million, and total operating expenses declined 43.6% from the prior-year period to £26.9 million from £47.7 million.

Reported net income totaled a loss of £597,160, or a loss of 1 pence per share, compared to income of £7.7 million, or 17 pence per share, in the year-earlier period.