StockMarketWire.com - Dewhurst reported a slip in first-half profit as 'good' growth in sales in the lift and transportation divisions were offset by a 'significant' reduction in keypad demand.

For the six months ended 31 March, pre-tax profit decreased 3% to £2.5m as revenue rose 1% to £28.2m.

'The UK has probably been our most seriously impacted market to date and the only country in which we were temporarily forced to close a factory. This is now operational again, but we have furloughed or laid-off staff in a number of locations and this will continue while demand is lower than normal,' the company said.

An unchanged interim dividend of 3.75p per share was declared.

With the main impact of the Covid-19 pandemic expected to be felt in the second half of the year, it may not be sustainable to maintain the dividend policy for the year ending 30 September 2020, the company said.

'The board will make a decision on this at the normal time on the announcement of our full year results,' it added.


At 9:31am: [LON:DWHT] Dewhurst PLC share price was -27.5p at 847.5p



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