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The Preliminary results for the year ended 31 December 2020 announcement released on 15/03/21 at 7:00am London time under RNS No.1803S contained an error relating to other operating expenses in the Financial Review section and the table titled Consolidated Statement of Comprehensive Income. The following amendments have been made.
Operating Profit Operating profit of US$66.9 million was US$2.0 million lower than prior year (2019: US$68.9 million) principally due to the negative impact of the BRL devaluation against the US, lower revenues being offset by reduced operating costs and no impairment charges in the current financial year (2019: US$13.0 million). Operating margin for the year was 18.9% (2019: 20.2% - excluding the impairment charge) principally due to the increase in foreign exchange losses on monetary items, negatively offsetting lower operating costs as the Company implemented cost savings strategies in the face of Covi ....