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Time Out losses deepen as pandemic crimps sales

By BFN News | 08:03 AM | Wednesday 30 September, 2020


Guide publisher and food court business Time Out booked a deeper first-half loss after its sales were squashed by national lockdowns and border closures that crimped international travel. Pre-tax losses for the six months through June amounted to £18.0 million, compared to losses of £12.0m year-on-year. Revenue dropped 24% to £20.3 million. Time Out did not declare an interim dividend. 'The duration and scale of the continued impact of Covid-19 and the measures required to curb it are unknown,' it said. 'However, the group has taken funding, cost and operating initiatives to ensure it emerges stronger from this period of disruption.' At 8:03am: (LON:TMO) Time Out Group Hc Ltd share price was -2p at 34p Story provided by StockMarketWire.com

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