May 22, 2020 / 1:50 AM / 4 days ago

BRIEF-Avjennings Updates On COVID-19 Impact

May 22 (Reuters) - Avjennings Ltd:

* EXPECTED FY20 TO BE STRONGER THAN FY19, STATEMENT NO LONGER VALID

* MOST STAFF HAVE AGREED TO MOVE TO A FOUR DAY WEEK

* UPDATE ON COVID-19 IMPACT

* “SENIOR EXECUTIVES HAVE ALSO AGREED TO INITIATIVES THAT WILL HELP TO IMPROVE CASH AND PROFIT OUTCOMES”

* BOARD OF DIRECTORS HAVE ALSO AGREED TO REDUCE THEIR FEES

* BOTH SALES AND ENQUIRY LEVELS BELOW LEVELS ANTICIPATED BUT ABOVE SHORT-TERM EXPECTATIONS

* NET CONTRACT SIGNINGS IN FEBRUARY, MARCH AND APRIL WERE 100, 57 AND 51 RESPECTIVELY

* NET CONTRACT SIGNINGS IN MAY TRACKING BROADLY IN LINE WITH APRIL Source text for Eikon: Further company coverage:

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