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React upgrades profit guidance as Covid-19 decontamination work boosts sales
StockMarketWire.com
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Specialist cleaning company React said it expected to post a full-year profit ahead of market expectations after demand rose for Covid-19 decontaminations.
Organic revenue for the year through September was expected to rise 42% year-on-year to around £4.4 million.
The healthcare, rail, and facilities management sectors performed well, augmented by incremental business in other areas, such as education and residential care homes.
'The board expects profit before tax for the year ended 30 September 2020 to be ahead of market expectations driven by both Covid-19 related decontaminations and a number of non-Covid-19 related projects,' React said.
Net cash at 30 September was also ahead of market expectations at £1.8 million.
Chief executive Shaun Doak said the new financial year had started well, with momentum continuing.
'The immediate outlook is positive, although we are mindful that the seemingly ever-changing environment in which we work can bring with it both opportunities and challenges.'
'As a management team we are reviewing tactics almost daily to ensure React remains an effective solution for our customers, our colleagues remain safe, and the business profitable.'
Story provided by StockMarketWire.com
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