- Credit hire and legal services provider Anexo reported a sharp decline in annual profit as investment costs offset a fall in revenue.

For the year ended 31 December 2020, pre-tax profit fell 30.8% to £15.5 million year-on-year, while revenue increased by 10.5% to £86.8 million.

Operating profit reported fell 26.6% to £18.1 million, which was in line with market expectations, the company said.

The proposed final dividend was 1 penny per share, giving a total dividend for the year of 1.5 pence per share, unchanged from last year.

'Whilst others have made redundancies, furloughed staff and withdrawn from the credit hire market, we have continued recruitment,' the company said.

'This has impacted our reported financial performance in 2020 but these investments have been made to support continued growth into 2021 and beyond,' it added.

At 9:12am: [LON:ANX] Anexo Group Plc share price was 0p at 146.5p

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