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Northbridge Industrial expects 'modest' annual profit beat
StockMarketWire.com
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Services and rental group Northbridge Industrial Services said it expected its annual pre-tax profit before exceptional costs to be 'modest' ahead of its previous expectations and slightly ahead of 2019.
The performance, it added, was underpinned by an ongoing recovery in all its markets.
'Trading in the second half of 2020 showed a marked improvement following the sharp Covid-19 related downturn in the second quarter as lockdowns were introduced in all our markets,' the company said.
'Although the pandemic continues to influence the business, we were pleased to see that the impact on the group continued to reduce as the year progressed.'
Revenue would be broadly similar to 2019, assisted by the continued strong growth for the manufacture and sale of Crestchic's loadbanks.
A change in overall revenue mix towards lower-margin direct sales, however, had reduced overall gross margins for the year.
At 8:45am: (LON:NBI) Northbridge Industrial Services PLC share price was 0p at 69.5p
Story provided by StockMarketWire.com
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