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HSS Hire losses widen as revenue falls on pandemic-led disruptions
StockMarketWire.com
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Tool hire company HSS Hire reported wider losses following a decline in revenue as pandemic had a 'significant' impact across its markets.
For the year ended 26 December 2020, pre-tax losses widened to £23.6 million from £5.8 million year-on-year while revenue fell 17.7% £269.9 million.
'The onset of the pandemic had a significant impact across our markets but decisive action to preserve cash and adapt our business supported a strong recovery in the second half of the year with EBITDA ahead of 2019 levels in the final quarter,' the company said.
Looking ahead, company said it had 'encouraging start' to 2021, with EBITDA in the first quarter ahead of 2019 and 2020 levels.
At 10:00am: (LON:HSS) HSS Hire Grp Plc share price was 0p at 18.7p
Story provided by StockMarketWire.com
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