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Bilby swings to H1 loss as operations hit by Covid-19 pandemic impact
StockMarketWire.com
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Gas heating, electrical and building services provider Bilby swung to a loss owing to Covid-19 fueled disruptions to its operations.
For the six months ended 30 September 2020, pre-tax losses were £192,000, compared with a profit of £711,000 as revenue fell to £23.4 million from £29.8 million.
The performance was impacted by the lower run rate in the first half of the year and non-underlying exceptional restructuring costs of £371,000, the company said.
The reduction in underlying revenues, resulting from the lack of access to property, was 'partly mitigated by capturing additional work streams to support our clients,' it added.
Looking ahead, the company said that as it continued to operate in regions with various levels of lockdown restrictions, it remained confident the mandatory nature of its work, driven by regulation, would be delayed rather than cancelled.
'However, the visibility on implications and timings remains challenging,' it added.
At 8:17am: (LON:BILB) Bilby Plc share price was 0p at 26p
Story provided by StockMarketWire.com
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