Cost cutting initiatives to be revealed soon
Adjusted underlying pre-tax margins over the latest interim period were 18%, down from 21% the year before. Its profit margins have been on a downward slide in recent years falling from 27% over the same period in 2017 to 24% in 2018.
Underlying profit before tax plunged 15% in the last six months of 2020 from £7.3m to £6.2m.
Revenues of £34.2m were also 3% lower than the £35.2m brought in over the comparable period in 2019, despite assets under management increasing 3.4% to £45.7bn.
Barham said the group is currently developing a series of cost cutting exercises that will be revealed in due course and is looking to “re-engineer” its operational infrastructure to slice operating costs “materially”.
KZN company and UJ students win the dtic Furniture Design Competition
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A KwaZulu-Natal company and a trio of University of Johannesburg students romped home with top honours in the national Furniture Design Competition hosted by the Department of Trade, Industry and Competition and other stakeholders today.
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Critics immediately panned Brussels for even toying with the idea of placing restrictions on the Irish border, for fear it could lead to the return of sectarian, cross-border violence on the island of Ireland.
A series of hurried, worried phone calls took place between European capitals who had not been consulted on this move including, bafflingly, Dublin.
EU diplomats and officials in Brussels were embarrassed by what appeared to be a unilateral threat from the Commission to the UK, a sovereign nation, and a clear risk to civil society in Northern Ireland a weird flex for an institution which purports to promote and protect peace and civility.
By Pinar Noorata on February 26, 2021
The year 2020 was a challenging one for everyone around the world and it presented a unique set of obstacles for artists to overcome. For London-based Ian Berry, who has masterfully worked exclusively in denim for the last 15 years, the COVID-19 pandemic put an unexpected halt to his creative schedule. As a professional artist whose workflow includes photo shoots for him to capture original images to recreate in denim, all of his sessions had to be canceled. And with a number of upcoming museum exhibits expecting new work, Berry had to take quick action and inspiration from his limited surroundings.
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