RE: 800k market cap3 Jul 2023 09:54
The Board is, however, encouraged that the profitability of the business in recent months has been in line with the Board's expectations. The positive impact on the profitability of the Group of the implemented cost reduction measures is now becoming increasingly evident in its financial performance. In the first four months of the current financial year, the Group's fixed cost base has been reduced by 9% year-on-year, with this saving expected to increase as additional cost reduction actions take effect.
Following the seasonally loss-making months of February and March, the Group generated unaudited EBITDA (pre-IFRS 16) of approximately £1.1 million for April and May combined, an
A Few 5k buys and off we go
EBITDA margin of 14%, an improvement from 9% in the prior year period. For the first four months of the financial year, the Group is at EBITDA breakeven.
The Board will continue to provide further updates as appropriate.