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Catena losses widen on 'extremely challenging' first half amid virus impact

By BFN News | 09:28 AM | Wednesday 30 September, 2020


Asset management group Catena reported a sharp jump in losses amid an 'extremely challenging' first half of the year as revenue more than halved. For the six months ended 30 June 2020, pre-tax losses widened to £270,049 from £15,258 as revenue fell to £449,530 from £943,433. The company blamed the weaker results on 'the impact of Covid-19 and the resultant lockdown in the UK and closure of schools from March.' Its pantheon Leisure portfolio company, which owns 100% of the operating business of the sport and leisure division trading as Sport in Schools, made a loss of £22,021 for the six months ended 30 June, compared with a profit £62,533. Sports in schools turnover fell by 52% to £449,530. Story provided by StockMarketWire.com

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