29 Jul 2014 07:50
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Don't have an account? Click here to register.Fitbug jumps on wearable sales news
Thu, 29th May 2014 14:15
Wearable fitness products group Fitbug saw losses increase last year but impressed with sales for the new financial year that were already 60% higher than the whole of 2013.A loss before tax of £2.6m reflected significant investment in new product development and innovation and the strategic decision to focus the company's product range on the retail consumer market where new Chief Executive Malcolm Fried believes there are substantial growth opportunities as wearable device adoption become mainstream, such as Google Glass.Revenue in 2013 fell £1.3m to £0.75m as the company shifted strategy, but so far in 2014 sales and confirmed orders have hit £1.2m, with 20 retailers having confirmed plans to stock Fitbug product, including Tesco, Dixons and PC World in the UK and Radioshack in the US.Said Fried: "In broadening the product range, switching our strategic distribution focus to retail, and bolstering our management team, Fitbug has positioned itself for growth in 2014." He stressed that the company's strategy was supported by its financial backers, including the Kirsh Group, with all loans extended to end July 2015 on "attractive terms". £2m of new loans were added to £2m existing loan, both on an interest rate of 5%.Fitbug gave an update on legal action against San Francisco-based Fitbit, against which it has filed a suit that alleges trademark infringement and unfair business practices. A trial is scheduled in early 2015 and Fitbug said it "believes that it has a strong case". Shares in Fitbug were up 9.5% to 0.58p at 14:30 on Thursday. OH
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29 Jul 2014 07:41
29 May 2014 12:04
UK MIDDAY BRIEFING: Kingfisher Dives As It Misses Forecasts
LONDON (Alliance News) - Home improvement retailer Kingfisher is the biggest decliner on the FTSE 100 Thursday after it warned that it expects tougher trading in the second quarter against stronger comparatives, and said its margins had been hit by discounts in its kitchens an
Read more29 May 2014 11:34
CORRECT: UK WINNERS & LOSERS: Kingfisher Leads FTSE 100 Fallers
(Item published at 1209 BST and 1218 BST misstated the surname of Aggreko's interim CFO. The correct version follows.) LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Thursday.
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FTSE 100 - WIN
29 May 2014 11:18
CORRECT: UK WINNERS & LOSERS: Kingfisher Leads FTSE 100 Fallers
(An item published at 1209 BST misstated the first name of Aggreko's incoming chief executive. The correct version follows.) LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Thursday.
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FTSE 100
29 May 2014 11:09
UK WINNERS & LOSERS: Kingfisher Leads FTSE 100 Fallers
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Thursday.
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FTSE 100 - WINNERS
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Smith & Nephew, up 4.1%. Shares in the medical technology company have r
29 May 2014 08:53
Fitbug Upbeat As Losses Widen On Investment Costs
LONDON (Alliance News) - Fitbug Holdings PLC Thursday said its losses widened in 2013, as it continued to invest in its product offering. The provider of online personal health and well-being services posted pretax losses of GBP2.6 million for 2013 compared with a GBP1.5 million loss in 201
Read more29 May 2014 07:25
UK MORNING BRIEFING: Kingfisher Shares Fall 5% Amid Firm Open
LONDON (Alliance News) - UK shares are higher at open Thursday, ahead of some US economic data later in the day.
B&Q and Screwfix owner Kingfisher is leading FTSE 100 fallers, down 5.4%. Despite showing a strong increase in its retail profit for the first quarte
30 Apr 2014 13:00
Fitbug Agrees Extension To Loans; Secures Additional GBP1 Million
LONDON (Alliance News) - Fitbug Holdings PLC Wednesday said it has agreed an extension to all of its loans from NW1 Investments Ltd and Kifin Ltd, while securing an additional loan of GBP1 million. The AIM-listed provider of online personal health and well-being services, said it has agreed
Read more23 Apr 2014 11:40
UK MIDDAY BRIEFING: Associated British Foods Soars On Profit Boost
LONDON (Alliance News) - Associated British Foods said Wednesday profit for the first half of the year increased, driven primarily by sales at its low-cost fashion retail chain Primark, which more than offset a substantial hit to its sugar business.
The food, ingred
23 Apr 2014 10:41
UK WINNERS & LOSERS: Iofina Share Price Halved By Production Outlook
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Wednesday.
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FTSE 100 - WINNERS
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Associated British Foods, up 8.9%. The food, ingredients and retail group r
23 Apr 2014 09:57
Fitbug Appoints New Chief Executive, Inks US Sales Agreement
LONDON (Alliance News) - Fitbug Holdings PLC said Wednesday that it had scored former Bloomberg LP London head Malcolm Fried to succeed its departing Chief Executive David Turner with immediate effect. The wearable technology company also announced that it had signed an agreement with Griff
Read more23 Apr 2014 07:38
UK MORNING BRIEFING: ABF Gains Despite Repeating Sugar Price Warning
LONDON (Alliance News) - UK shares are flat to higher Wednesday following a firm close in the US.
Several UK blue-chips and mid-caps - including Reed Elsevier, ARM Holdings and MoneySupermarket.com - sought to provide reassurance a
26 Mar 2014 16:32
Fitbug agrees distribution agreements, appoints sales director
Shares in wearable personal health technology minnow Fitbug jumped on news of new distribution deals. The company has sealed deals with six retail distribution partners, providing coverage in most of Western Europe, Russia, South Africa, much of South East Asia and Australasia. The AIM company has
Read more