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Textile and finance leasing company Leeds Group swung to a first-half loss after reporting a fall in turnover owing the impact of the omicron Covid-19 variant on retail operations.
For the six months ended 30 November 2021, pre-tax losses were £487,000, compared with a profit of £735,000 last year as turnover fell to £15.6 million from £20.0 million.
'Although there have been no further country-wide lockdowns in Germany, the German government and other European governments have introduced restrictions to curb the spread of the new Omicron variant which directly impact retail operations,' the company said.
Hemmer's turnover decreased to £12.7 million from £15.6 million and KMR turnover decreased to £2.9 million from £4.4 million.
'The short-term business outlook remains difficult to predict because of the prolonged nature of the pandemic with new variants continuing to emerge,' it added.