May 12, 2020 / 6:57 AM / in 15 days

BRIEF-Inspecs Group Says Will Not Be Recommending A Dividend At This Time

May 12 (Reuters) - Inspecs Group PLC:

* FY GROUP REVENUE INCREASED 6.9% TO $61.25M (2018: $57.30M)

* FY UNDERLYING EBITDA INCREASED 9.4% TO $12.99M (2018: $11.87M)

* WILL NOT BE RECOMMENDING A DIVIDEND AT THIS TIME BUT WILL KEEP THIS UNDER REVIEW

* FY PROFIT BEFORE TAX INCREASED 102.4% TO $7.35M (2018: $3.63M)

* HAVE DECIDED NOT TO PAY A DIVIDEND UNTIL FULL EFFECTS OF PANDEMIC ON BUSINESS ARE KNOWN

* EXECUTIVE DIRECTORS HAVE TAKEN A 60% CUT TO THEIR SALARIES

* HAVE IMPLEMENTED A FOUR-DAY WEEK WITH A 20% CUT IN SALARIES ACROSS UK AND USA LOCATIONS UNTIL FURTHER NOTICE

* FACTORIES IN CHINA AND VIETNAM ARE ALMOST BACK TO FULL PRODUCTION CAPACITY

* EXPECT A VERY ACTIVE Q4 AND POSSIBLY Q3 WHEN EFFECTS OF VIRUS ON INDUSTRY WILL BE CLEARER

* FACTORIES IN CHINA & VIETNAM ARE ALMOST BACK TO FULL PRODUCTION CAPACITY, ALTHOUGH MOST CUSTOMERS BEEN FORCED TO CLOSE DURING LOCKDOWN Source text for Eikon: Further company coverage:

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