5th Nov 2020 16:14
Kin & Carta PLC - business consultancy firm - Revenue from continuing operations for year to July 31 edges down to GBP158.4 million from GBP160.1 million the year before. Swings to pretax loss of GBP33.8 million from profit of GBP2.1 million year prior. Adjusted pretax profit down 39% to GBP10.5 million.
The new year is showing "signs of recovery", Kin & Carta says, with first quarter net revenue expected to be higher than the final quarter of the recently-ended financial year.
"We are progressing towards a recovery with our current pipeline now valued at the highest level in over 12 months. There is a short time lag converting the pipeline to revenue and we expect our first half net revenue to be slightly below our second half FY20, with profitability in line with second half levels," firm says.
Is "optimistic" of a return to growth in the second half of the financial year, while cautious on the continued uncertainty caused by the pandemic.
Pays no dividend for year, versus 1.95p year ago.
Current stock price: 78.80 pence
Year-to-date change: down 21%
By Lucy Heming;Â [email protected]
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