- Data and intelligence business Merit posted a full-year loss after its revenue slipped.

Pre-tax losses for the year through March amounted to £2.9 million, compared to year-on-year loss of £1.3 million. Revenue fell 11% to £24.7 million.

Merit did not declare any dividends for the year.

It said its second-half gross profit of £5.1 million was up 8.5% year-on-year.

'The group has performed extremely well in the second half of the year, recovering much of the ground lost in the first half as a result of the impacts of the pandemic,' chairman Mark Smith said.

'We are optimistic this improved trading performance will continue in the current year.'

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