STOCK WATCH

FRONTIER Smart Technologies, which creates household devices that can be controlled over the internet, saw its shares plunge as it confessed to more setbacks.

The firm, which issued a profit warning a year ago, said it was seeing an increase in competition in digital radios which can connect to both FM and internet-based stations.

Sales of its speakers have also remained weak, and the firm said losses could hit £700,000. Shares slumped by 36.3pc, or 7.62p, to 13.38p.