10th Dec 2019 11:35
(Alliance News) - MS International PLC on Tuesday said its performance deteriorated in the first half of its current financial year amid political and economic uncertainties.
The defence and petrol-station services group reported a pretax loss of GBP486,000 for the six months to the end of October compared to GBP3.2 million profit generated a year prior, as revenue fell to GBP33.3 million from GBP37.7 million.
MS International explained that many markets that it serves are currently hurt by global political and economic instability.
The company has maintained its interim dividend at 1.7 pence a share.
"Clearly, although not unforeseen, the performance has been disappointing in some areas of the group but elsewhere what is being achieved is quite pleasing, albeit the benefits are yet to be demonstrated in our results," said Chair Michael Bell.
"Opportunities are undoubtedly there, while fresh ones continue to arise, so we are seriously endeavouring to ensure that we are in a positive and capable position to maximise prospects as and when presented," added Bell.
The stock was trading 5.6% lower in London on Tuesday at 170.00p a share.
By Evelina Grecenko; [email protected]
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