StockMarketWire.com - Estate agent Purplebricks warned it expected its revenue for the year through April to come in below expectations, owing to the Covid-19 pandemic.

The company said it was too early to predict what the impact of the outbreak would be on its 2021 financial year results.

It had introduced cost saving measures, including reducing supplier costs and overheads and suspending all TV and radio advertising, while reducing spending on online advertising.

Purplebricks said it would use the UK government's Covid-19 job retention scheme, which it was currently assessing how to implement.

The company said it retained around £35m of cash on its balance sheet and had no debt.


At 9:24am: [LON:PURP] Purplebricks Group PLC share price was -0.05p at 37.7p



Story provided by StockMarketWire.com