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Management consulting company Aquila Services scrapped its dividend after reporting a fall in net profit following restructuring costs owing to the Covid-19 pandemic.
For the year ended 31 March 2020, statutory net profit fell to £126k from £466k on-year, while turnover rose to £7.96m from £7.65m.
Restructuring costs included staff-related costs of £186k arising from the redundancy costs relating to Covid-19, the company said.
'Due to the current economic climate and the requirement for the group to maintain and retain cash reserves within the business, the directors do not propose a final dividend for the year end,' it added
At 8:55am: (LON:AQSG) Aquila Services Group Plc share price was 0p at 26.5p