Wholesale group Kitwave said trading has returned to pre-pandemic levels but has posted a drop in revenues in its first full year results as a listed company.
The North Shields-based firm has reported revenues of £380.7m for the year ending October 31 2020, down from the £592m recorded for the previous 18 months. Adjusted operating profit also fell from £16.5m in the previous financial period to £7.1m.
The company is recommending a final dividend of 4.5p per share following a listing on the AIM market last May which raised £64m for the company and £17.6m for selling shareholders.
