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Shearwater reports revenue fall but eyes new business wins

By BFN News | 09:35 AM | Thursday 22 October, 2020


Business continuity specialist Shearwater Group has reported "resilient performance" for the six months ending 30 September 2020, despite a fall in revenue. Ahead of the publication of its interim results, Shearwater said it expected to report revenue of approximately £11 million for the first half of the year, down from £16.3 million in the same period last year, while earnings were likely to be unchanged at £1 million. The company won new business and renewals and reported strong cash generation during the period, improving the strength of the balance sheet, while delivering on its strategic roadmap. While COVID-19 has delayed client decision making processes, resulting in contract deferrals, the company said it did not have much exposure to sectors most affected by the pandemic. At 9:35am: (LON:SWG) Shearwater Group Plc share price was 0p at 160p Story provided by StockMarketWire.com

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