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Shares in AIM-listed business services provider Bilby (LON:BILB) climbed by 18.72% to 24.04p (as of 13:50 BST) even as revenues dropped by 18%. The company said it had made substantial progress on resolving legacy issues and had secured a number of new large scale contracts.
CEO David Bullen commented: “This has been a period of restructuring for the Group in which we finally resolved the legacy issues relating to P&R and continued the operational and financial review that collectively has achieved a positive reset for the Group. We have taken the positive steps to improve our levels of transparency and efficiency, as well as engaging staff at all levels to shape the future of the organisation. This will ensure that each subsidiary benefits from being part of a wider Group and will accelerate the trajectory of our future growth path. I am confident that the actions we have taken, and continue to undertake, will ensure that Bilby is best placed to capitalise on opportunities moving forward“.