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Yu books loss as revenue slips; eyes profitable growth in 2021
StockMarketWire.com
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Utility provider to small business Yu posted a full-year loss after its revenue fell, though it said it expected to report 'profitable growth' in the current financial year.
Pre-tax losses for the year through December amounted to £1.54 million, compared to year-on-year losses of £6.0 million. Revenue fell 9% to £101.5 million.
Yu did not declare any dividends for the year.
'I am pleased to confirm a strong performance for 2020 and a good start to 2021, further strengthening our 2021 contracted revenue from the £93 million already secured in 2020,' chief executive Bobby Kalar said.
'Our strategy is working well and as such the board is confident that the business is on track to deliver its operational KPIs and to report profitable growth in 2021.'
Story provided by StockMarketWire.com
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