4th Nov 2020 16:26
Prime People PLC - London-based recruiter - Says revenue for financial year to March 31 at GBP24.0 million, down from GBP24.7 million the year before. Swings to pretax loss of GBP2.1 million from profit of GBP2.5 million after taking goodwill impairment of GBP4.0 million.
"In light of the uncertainty of future profit generation from the UK markets, an impairment charge of GBP4.0m has been recognised against the carrying value goodwill of Macdonald & Company Group Ltd," Prime People says.
Dividend for year was at 1.80p versus 5.20p for 2019 financial year.
Peter Moore, managing director of Prime People, says the company delivered an "acceptable performance" given the coronavirus pandemic.
"The Covid-19 pandemic started in the early part of 2020, and while not having a material impact on performance for the year ended 31 March 2020, nonetheless, slowed activity in our final quarter. Overall, the group delivered an acceptable performance given that our Asian markets slowed rapidly in early Q4 as the pandemic took hold in the region ahead of the UK downturn later in the quarter," says Moore.
Current stock price: 44.12 pence
Year-to-date change: down 58%
By Lucy Heming;Â [email protected]
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