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IN BRIEF: Universe Group trims losses but Covid shrinks revenue

Fri, 30th Apr 2021 13:37

Universe Group PLC - Southampton, Hampshire-based retail management solutions, payment and loyalty systems provider - Posts full-year revenue of GBP19.8 million, down 12% from GBP22.4 million the prior year. Says the decrease reflects the "Covid down-turn in customers' fuel retailing activities", with a recovery expected in 2021.

Makes pretax loss for 2020 of GBP700,000, narrowed from GBP1.6 million in 2019.

Also says it is on track to deliver a "substantial" contract to replace the outdoor payment terminals for a grocery customer, as part of a project scheduled to finish in mid-2021.

Executive Chairman Andrew Blazye comments: "As 2020 unfolded, the group took all necessary steps to sustain its customers, employees and operations, in what was a very unpredictable environment. I am pleased to say that we closed the year with a business which, by delivering commendable financial results, has proven its value to the marketplace in the toughest of times.

"By winning new, multi-year contracts with key payment clients and being awarded a major contract extension for a loyalty customer, it is clear our proposition remains compelling and full of potential."

Current stock price: 5.80 pence

Year-to-date change: up 49%

By Will Paige; willpaige@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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