4th Aug 2021 19:33
Global Invacom Group Ltd - Whitstable, Kent and Singapore-based satellite communications equipment and electronics firm - For the first half of 2021, expects to report net loss of USD1.2 million compared to profit of USD300,000.
In addition, revenue is set to decline 23% year-on-year to USD40.4 million from USD52.8 million, as a result of the pandemic disrupting supply chains and the availability of key products.
As a result, Global Invacom will undertake a further restructuring to reduce its cost base, by removing excess headcount in non-core functions and reducing administrative expenses.
Current stock price: 6.00 pence, down 7.7%
Year-to-date change: unchanged
By Dayo Laniyan; [email protected]
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