IN BRIEF: Travel Restrictions Hurt Aquila Services Contracts

Aquila Services Group PLC - management consulting services provider - Reports decline in pretax ...

Alliance News 27 November, 2020 | 7:30PM
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Aquila Services Group PLC - management consulting services provider - Reports decline in pretax profit for six months ended September 30 to GBP202,000 from GBP254,000 as revenue falls to GBP3.5 million from GBP3.9 million. Implements redundancies and furloughs other staff "as restrictions on travel and meetings affected our contracts with clients, particularly in the public sector, whose responsibilities were necessarily diverted elsewhere." Porposes interim dividend of 0.15 pence per share, down from 0.30p per share the prior year.

Chair Derek Joseph: "The impact of the pandemic is not over yet. The immediate concerns of a second wave of infections and further spikes are yet to be fully realised whilst the efficacy and roll out speeds for potential vaccines are still uncertain. The significant increase in government debt of both the UK and the rest of the world as well as, potentially, lasting cultural changes, could restrict the sectors where we specialise and the level of investment in those communities. Although we are pleased at how the Group has adapted and our continuing response to a changing environment, we still need to work within the economic restraints that drive our client base."

Current stock price: 29.20p

Year-to-date change: down 10%

By Anna Farley; annafarley@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Aquila Services Group PLC 26.00 GBX 0.00 -

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