Jelf reports £616,000 loss; chairman to leave
Jelf has reported a £616,000 loss for the six months ending 31 March 2010, compared to a £994,000 loss for the same period the previous year.
In the six month period, group revenue remained largely flat at £34.9m (2009: £35m) but EBITDAE increased by 20% to £4.1m and the EBITDAE margin rose by 20% to 12% (2009: 10%).
Net debt reduced to £13.6m (31 March 2009: £38.8m, 30 September 2009: £30.7m) while operating profit stood at £977,000, compared to a £429,000 loss for the same period in 2009.
Alex Alway, group chief executive, said: “The wider economic climate remains challenging but Jelf maintained its revenue levels and, thanks to
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