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Universe Groupp suffers end of year losses amid lower revenues
StockMarketWire.com
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Developer and supplier of retail management solutions Universe Group has filed a loss for the year ending 31 December 2020 of £0.62 million. Total revenues fell to £19.75 million from £22.44 million in 2019 a decrease reflecting COVID down-turn in customers' fuel retailing activities.
The firm expects this to recover during 2021.
The losses stem from the impact of both lower revenues and gross profit margin, partially offset by the reduction in administrative costs.
Andrew Blazye, executive chairman of Universe, commented: "As 2020 unfolded, the Group took all necessary steps to sustain its customers, employees and operations, in what was a very unpredictable environment. I am pleased to say that we closed the year with a business which, by delivering commendable financial results, has proven its value to the marketplace in the toughest of times.
At 8:57am: (LON:UNG) Universe Group PLC share price was 0p at 4.1p
Story provided by StockMarketWire.com
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