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Investegate | Company News | Corporate, London Stock Exchange, Regulatory News Headlines Andrews Sykes annual profit falls as pandemic impact bites; ups final dividend

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Andrews Sykes annual profit falls as pandemic impact bites; ups final dividend | 5 May 2021

5 May 2021 | 09:24am StockMarketWire.com - Hiring equipment company Andrews Sykes reported a fall in profit following a slip in revenue owing to a pandemic-led impact on demand. For the year ended 31 December 2020, pre-tax profit fell to £15.8 million from £18.6 million year-on-year as revenue slipped 12.9% to £67.3 million. This decrease reflects a much lower level of trading across all our businesses mainly due to the effects of the coronavirus pandemic, the company said. The fourth quarter of 2020 was particularly challenging due to the combination of severe Covid-19 restrictions being imposed by the governments in the UK and Europe and a relatively mild winter in the UK, it added.

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