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Property services group Kinovo swung to a half-year profit despite the market challenges of supply chain inflation and material and labour availability.
For the six months ended 30 September 2021, pre-tax profit was £1.1 million from a loss of £0.45 million a year earlier, while revenue increased to £23.8 million from £14.5 million.
'While the board remains very mindful of the continuing challenges in the external environment, the strength and resilience of our first half performance means we are confident in our outlook for the full year and with our new contract wins, we expect a return to our historical heavier weighting in our second half performance,' the company said.