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  5. Fitbug's sales in shape, but product investment weighs on full year results

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Fitbug's sales in shape, but product investment weighs on full year results

Fri, 13th Feb 2015 11:18

Camden-based Fitbug expects full year losses in line with forecasts, despite a second half sales surge on its wearable gadgets.Although sales were almost five times higher than in its first half, the company's increased investment in product development is estimated to result in a loss of £3.6m in 2014, worse than 2013's loss of £2.7m.Second half sales were £1.4m, taking full year sales to £2.34m, dwarfing 2013's full year sales of £749,000. The Fitbug Orb product, which counts steps and burnt calories while wirelessly syncing data to phones, boasted a particularly strong performance in the fourth quarter.Chief executive Paul Landau said that retail interest will continue to grow now the products are featured in US Target stores, as well as the Argos catalogue. The business is also confident that its digital coaching app, Kigplan, has a bright future, thanks to recent partnerships with Samsung and Jawbone, as well as future compatibility with the Apple Watch come April's launch."Our new Kiqplan service proposition has been incredibly well-received in the market and we are extremely excited by its potential as awareness and understanding of it grows," said Landau.Deals with Amazon in the UK and US are being discussed and a sales distribution deal with BestBuy.com, delayed from Janurary due to a switch in their preferred distributor, will go live shortly."This is a really exciting period of opportunity for Fitbug as we see accelerating growth and convergence across the wearable tech, mobile and digital health landscape," added Landau.Fitbug share were up 17.39% to 6.75p at noon on Friday.
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26 Mar 2014 13:40

UK MIDDAY BRIEFING: Government Completes 2nd Lloyds Bank Stake Sale

LONDON (Alliance News) - The UK government has raised a further GBP4.20 billion from its second sale of Lloyds Banking Group PLC shares, meaning it has now recouped GBP7.41 billion of the roughly GBP21 million that taxpayers injected into the bank during the financial crisis.<

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26 Mar 2014 11:30

UK WINNERS & LOSERS: Standard Life Leads FTSE 100 Risers

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

Standard Life, up 5.2%. The company has agreed to buy Ignis Asset Mana

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26 Mar 2014 08:30

Fitbug Holdings Surges As It Targets Bigger Presence In Retail Market

LONDON (Alliance News) - Fitbug Holdings PLC saw its shares leap early Wednesday after it said it had agreed terms with six retail distribution partners providing coverage in the UK, France, Germany, Italy, Russia, South Africa, Southeast Asia, Australia and New Zealand. In a statement, the

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11 Feb 2014 13:31

CORRECT: UK MIDDAY BRIEFING: Stocks Gain Ahead Of Yellen Appearance

(An item published at 1325 GMT mis-spelt the Fed Chair's surname in the title. The correct version follows.) LONDON (Alliance News) - The FTSE 100 is up for a fifth consecutive day Tuesday amid a continuing global stock rally, with the London blue chip index helped by strong performances

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11 Feb 2014 13:28

UK MIDDAY BRIEFING: Stocks Gain Ahead Of Yellon Appearance

LONDON (Alliance News) - The FTSE 100 is up for a fifth consecutive day Tuesday amid a continuing global stock rally, with the London blue chip index helped by strong performances from the retailers and miners.

Retail stocks including Sports Direct International, Read more

11 Feb 2014 11:30

UK WINNERS & LOSERS: Kazakhmys Revalued As Tenge Is Devalued

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Tuesday.

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FTSE 100 - WINNERS

Sports Direct International, up 4.1%, and Marks and SpencerRead more

11 Feb 2014 11:25

Fitbug Holdings Takes Out Loan As It Moves To Exploit Interest In KiK

LONDON (Alliance News) - Fitbug Holdings PLC Tuesday said it has signed a GBP1 million loan deal with NW1 Investments Ltd to support its growth plans for this year. In a statement, the online personal health company said the loan is repayable by July 31, 2014 and will accrue interest at a r

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21 Oct 2013 08:16

Fitbug Launches Wireless Activity And Sleep Tracker Fitbug Orb

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20 Sep 2013 09:27

Fitbug Loss Widens On Expansion Spending; Take US Legal Action Against Fitbit

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10 Sep 2013 08:08

Fitbug enters Australia with Woolworths contract

Fitbug Holdings has gained entry to the Australian market by agreeing to supply its digital health technology for a well-being programme at Woolworths. The online personal health service has signed a contract with Leap4Life Global of the US, which is working on Woolworths' "All Good" employee wellb

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10 Sep 2013 08:01

Fitbug Enters Australia In Deal With Leap4Life Covering Woolworths

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