Jaywing FY revenus slide, pushes out publication of results

Data science agency Jaywing said on Wednesday that it had received approval from the London Stock Exchange to push out the publication of its full-year results until November.

Jaywing, which applied for the extension under the market's temporary Covid-19 measures, did reveal that net revenues were expected to have slipped year-on-year from £29.8m to £24.0m as a result of the pandemic's impact.

However, the AIM-listed group also said it had continued to win new business in the new year, with the first quarter being profitable at an underlying earnings level, and added that while "considerable uncertainty" remained in markets, it believes that it is well-positioned to benefit as economic activity recovers.

Chief executive Andrew Fryatt said: "We have been able to provide continuous service to our clients since March, and I am pleased that we have to date mitigated the impact of this pandemic on the business.

"I am grateful to our employees for adapting so rapidly to remote working."

As of 0930 BST, Jaywing shares were down 14.29% at 2.40p.