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Dods swung to a half-yearly loss as higher revenues were offset by narrower margins amid a rise in costs. The company also said it was cautious on the outlook for the second half of the year amid political and economic uncertainty.
For the half year ended 30 September 2019, the company reported a pre-tax loss of £0.3m, compared with a profit of £0.4m a year earlier, while revenue increased to £12.5m from £10.7m a year earlier.
Gross margin slipped to 34% from 42% a year earlier, owing to a 'combination of the change in the product mix following the addition of Merit and the increased venue and delivery costs experienced by Dods in the second half of last year,' the company said.
Due to the uncertainties in the political and economic environment, and with an approaching general election in the UK, the company remained 'cautious about the outlook for the second half of the year,' Dods said.
At 8:54am: (LON:DODS) Dods Group PLC share price was 0p at 6.38p