27th Nov 2020 15:48
Triad Group PLC - Surrey, England-based technology consultancy - Improves to first half pretax profit of GBP1,000 compared to GBP284,000 loss the year before. Revenue slips 3.3% to GBP8.7 million from GBP9.0 million. Administrative expenses cut 6.3% to GBP1.5 million from GBP1.6 million. Cancels interim dividend, versus 1p distribution last year.
"The effects of the Covid-19 pandemic have created some strong headwinds in a limited area of the business but profitability has improved during the period. Gross profit has grown at much higher margins than in previous periods, as the business continues to not only build more revenue from key accounts, but also continues to increase the ratio of permanent headcount to contractors on consultant-led engagements. Further, due to changes in working patterns, there is a limited reduction in operating costs and no members of staff were furloughed," Chair John Rigg says.
Current stock price: 37.10 pence, up 26% on Friday
Year-to-date change: up 1.6%
By Paul McGowan; [email protected]
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