Shares in Fire Angel Safety Technology Group PLC (AIM:FA.), the home safety group, dropped 29% due to ongoing global supply chain challenges and delays in securing significant contracts.
The supply chain issues have resulted in lower production, particularly affecting the company's higher-margin products destined for the UK trade market.
At the same time, only one of two expected contracts, a three-year deal with British Gas Services, has been secured so far, leading to lower revenues.
As a result, the board now expects the group's EBITDA for 2023 to be "materially below market expectations".
The stock, down 54% in the last year, dropped 3.3p to 7.95p early on Tuesday.