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Profit pressure mounts on Pressure Technologies
StockMarketWire.com
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Pressure Technologies has warned that it will likely post a full-year loss following the impact of Covid-19. In a trading update, the AIM-listed company said it was set to report revenue for the year to 3 October 2020 of about £25 million, down from £28.3 million in 2019.
That would mean reporting an adjusted operating loss for the year, compared to a £2.2 million profit a year ago.
This was put down to tougher trading conditions, Covid-19 disruption and the deferral of revenue and profit for a defence contract. But the Sheffield-based engineering company said strategic progress had made during the period.
At 10:01am: (LON:PRES) Pressure Technologies PLC share price was -4.5p at 54p
Story provided by StockMarketWire.com
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