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Defence and security raining solutions provider Pennant International posted a deeper first-half loss, citing the Covid-19 crisis.
Pre-tax losses for the six months through June amounted to £3.23m, compared to losses of £1.81m on-year. Revenue fell 14% to £6.26m.
'The first half was challenging, with Covid-19 having a significant impact on revenues across the group, resulting in an operating loss being recorded at the end of the period,' chairman Simon Moore said.
'However, cash generated from operations was strong amounting to £3.8m and the group also secured increased borrowing facilities totalling £4m,' Moore added.
'Having navigated this exceptional period, material improvements in performance are anticipated in the second half as revenues across the group improve.'
At 9:17am: (LON:PEN) Pennant International Group PLC share price was +1.5p at 33p