Menhaden Plc - Annual Financial Report
PR Newswire
The Annual Report will be posted to shareholders on or around 20 April 2021.
Copies may be obtained by writing to the Company Secretary, Frostrow Capital LLP at 25 Southampton Buildings, London WC2A 1AL, or from the Company s website -
www.menhaden.com
- where up to date information on the Company, including daily NAVs, share prices and fact sheets, can also be found.
A copy of the Annual Report will be submitted to the National Storage Mechanism and will shortly be available for inspection athttps://data.fca.org.uk/#/nsm/nationalstoragemechanism
Frostrow Capital LLP
The Preliminary results for the year ended 31 December 2020 announcement released on 15/03/21 at 7:00am London time under RNS No.1803S contained an error relating to other operating expenses in the Financial Review section and the table titled Consolidated Statement of Comprehensive Income. The following amendments have been made. Operating Profit
Operating profit of US$66.9 million was US$2.0 million lower than prior year (2019: US$68.9 million) principally due to the negative impact of the BRL devaluation against the US, lower revenues being offset by reduced operating costs and no impairment charges in the current financial year (2019: US$13.0 million). Operating margin for the year was 18.9% (2019: 20.2% - excluding the impairment charge) principally due to the increase in foreign exchange losses on monetary items, negatively offsetting lower operating costs as the Company implemented cost savings strategies in the face of Covid-19 and lower