Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Gas, electrical and building services provider Bilby swung to a profit as cost cuts offset a fall in revenue.
For the twelve months ended 31 March 2020, the company reported a pre-tax profit £1.7m compared with a loss of £10.4m, while revenue fell to £65.4m from £69.6m on-year.
'This performance was supported by strong adjusted operating cash generation of £5.0m and reduction of net debt by £3.7m,' the company said.
Looking ahead, Bilby said it had demonstrated its resilience in the first quarter of the fiscal year during the impact of Covid-19, with revenues and adjusted earnings (EBITDA) running at 62% and 75% respectively, compared with the previous year.
At 8:29am: (LON:BILB) Bilby Plc share price was +2.5p at 20p