StockMarketWire.com - Marketing services group System1 said it expected its first-half revenue and gross profit to fall by about a quarter, as the Covid-19 pandemic hurt its clients, particularly in the US.

No interim dividend would be paid, the company said.

Revenue and gross profit for the six months through September both were expected to fall by some 25% year-on-year.

System1 also said it was reviewing its office footprint for lease impairments in view of the pandemic and new ways of working.

'This review may give rise to an impairment charge, but any such adjustment will be a non-cash charge and will be confirmed at the release of interim results, it added.

Pre-tax profit, excluding any impairment charges, was expected to be some £0.6 million, about £0.8 million lower than in the comparable period.

At 9:20am: (LON:SYS1) System1 Group Plc share price was -7.5p at 107.5p



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