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Autins annual losses widen as pandemic impact dents revenue

Wed, 20th Jan 2021

Thermal insulation and filtration company Autins reported wider annual losses on lower revenue as the impact of the pandemic dented performance in the second half of year. For the 12 months ended 30 September 2020, pre-tax losses widened to £1.8 million from £1.5 million year-on-year as revenue fell to £21.5 million from £26.9 million. Second-half revenue took a £7.8 million hit from impact by the pandemic. '[T]his really was a year of two halves: with H1 trending on track to meet our full year expectations in the core auto business; and H2 proving that Autins has the agility to adapt to sudden changes in the macro-economy and rapidly make significant operational and financial adjustments which included securing government support funds,' the company said. At 9:44am: (LON:AUTG) Autins Group Plc share price was 0p at 15.5p Story provided by StockMarketWire.com

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