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Marlowe trading in line; says business model positions it favourably

By BFN News | 08:46 AM | Tuesday 31 March, 2020


Safety and compliance company investor Marlowe said it expected to perform in line with expectations for the financial year just ended, despite increasingly challenging conditions in recent weeks. Trading conditions in the second half of the year through March 2020 had overall been 'strong', the company said. 'Given the essential nature of our services, we remain confident that our resilient business model positions us more favourably than most sectors of the economy to both operate under the current Covid-19 restrictions and to benefit from a wider recovery in activity once these restrictions are eased,' it added. Marlowe said it had a strong balance sheet, with debt comprising a £45m revolving credit facility. 'As such, we are confident that we have sufficient funding capacity to manage a wide range of scenarios,' it said' Still, Marlowe said it was implementing cost reduction measures 'to prepare for the possibility that current restrictions remain in effect beyond the immediate term, and to minimise any concomitant impact on our business'. At 8:46am: (LON:MRL) Marlowe PLC share price was +24p at 347p Story provided by StockMarketWire.com

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