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MS International PLC - defence equipment manufacturer based in Doncaster, England - "Bitterly disappointed" to report a pretax loss of GBP3.3 million for the year ended April 30, compared with pretax profit of GBP4.8 million. Revenue falls 21% year-on-year to GBP61.2 million from GBP77.7 million. Blames Covid-19 related lockdown for swing to loss. Says restrictions on movement in terms of personnel and goods seriously impacted national and widespread international trading activities. Cuts final dividend to 1.75 pence per share from 6.5p, making a total for financial 2020 of 3.5p, down from 8.25p paid a year ago. Balance sheet strong with cash of GBP16.3 million versus GBP22.9 million and no borrowings, excluding lease liabilities.
Current stock price: 119.00 pence
Year-to-date change: down 35%
By Tapan Panchal; tapanpanchal@alliancenews.com
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