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Bilby expects revenue, earnings to fall in H1 following lockdown-led dent in Q1
StockMarketWire.com
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Heating, electrical and building services provider Bilby said it expected to report lower first-half revenue and earnings as weakness in Q1 as a result of the previous lockdown offset improved Q2 performance.
Bilby expected to report revenues of £23.4 million, down from £29.8 million, year-on-year and an earnings before interest, taxes, depreciation and amortisation, or EBITDA, of £1.5 million, down from £2.1 million, in line with the board's expectations.
Revenue dropped in Q1 'directly as a result of Covid-19, ... but 'the nature of Bilby's services meant that the majority of the work was delayed rather than cancelled reflected by the 54% uptick in Q2 revenue versus Q1,' the company said.
The company said it expected to report a 33% decrease of £2.3 million in net debt to £4.9 million from £7.2 million reported on 31 March 2020.
Story provided by StockMarketWire.com
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