Fire Angel Safety Technology Group PLC (AIM:FA.) shares slipped another 23% as it warned interim losses would be around £3.7mln, or some £2mln higher than expected previously, due largely to hedging losses.
Sales in the half year to June were down by 17% to £21.4mln.
The fire alarm specialist is in the middle of a strategic review instigated by new chief executive Neil Radley and chair Andrew Blayze.
FireAngel’s new team has already raised £6.1mln but said cash is now £1.2mln and debt £6.6mln.
Radley commented: “With the net proceeds of last month's fundraising, we are confident for the future and expect to see improved business momentum in the second half of 2023.”
Shares fell 1.05p to 3.25p.