27th Jul 2020 11:29
(Alliance News) - Geotechnical engineering company Van Elle Holdings PLC on Monday said its trading continues slightly ahead of the mid-case scenario outlined earlier this year.
On April 9, the company said its mid-case assumptions, in response to the impact of Covid-19, envisaged that group revenue would be approximately 25% below its original plan for this year's financial year ending April 30, 2021.
"This assumes that group revenue levels reduce to 40% of plan in May this year before recovering to approximately 80% in September and being maintained at around this level for the remainder of the year," Van Elle said.
Group liquidity remains strong with a cash position of GBP10.0 million at July 24.
Van Elle will announce its preliminary results for last year's financial year ended April 30 on August 20, as well as an update on the first quarter's trading.
Van Elle shares were up 4.1% at 32.80 pence each on Monday morning in London.
By Greg Roxburgh; [email protected]
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