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Data and intelligence group Merit predicts a £3.1 million drop in revenue for the year ending 31 March 2021, in its unaudited preliminary results.
Full year results for the period ending March 2021 are expected to be at £24.7 million, down £3.1 million from the same period last year.
Full year gross profit fell by 6.7% to £8.3 million, though predictions for H2 2021 results indicate a gross profit of £5.1 million, 87% ahead of same period the year before.
Mark Smith, non-executive chairman, said: The Group has performed extremely well in the second half of the year, recovering much of the ground lost in the first half as a result of the impacts of the pandemic. We are optimistic this improved trading performance will continue in the current year.
The company has appointed an interim group CEO. Whilst the search continues, the David Beck will take on the role with immediate effect.