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Grafenia sees lower annual revenue as lockdown bites, but touts optimism amid reopening
StockMarketWire.com
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Printing business Grafenia said it expected to report a fall in revenue as the Covid-19 lockdowns during the year weighed on performance, but stressed there was reason for optimism amid a good start to April as the economy opened up.
'This April has started well, as businesses in England begin to pull up the shutters and prepare to re-open,' the company said.
For the year ended 31 March 2021, revenue was expected to fall to £9.5 million from £15.6 million and the net loss to be lower than last year.
Gross profit to be around £5.6 million, down from £8.0 million.
'There's lots of reason to believe our clients will reopen to increased demand. Events will restart. Diners will feast. Drinkers will sip, or gulp,' the company said.
At 8:11am: (LON:GRA) Grafenia share price was 0p at 5p
Story provided by StockMarketWire.com
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