HML Holdings FY profits seen 'slightly behind' guidance

1st May 2020 10:50

(Sharecast News) - Property management group HML Holdings said on Friday that full-year revenues were on track to be in line with expectations, while profits were pegged to be "slightly behind" guidance.
HML also said it had successfully moved 95% of its service delivery into an environment of home working following the UK Government's Covid-19 lockdown.

Whilst the AIM-listed group acknowledged the shift had initially presented the operation with some challenges, these had largely been overcome and noted it did not see any long-term impact on the delivery of its services.

"We also do not see any long-term impact on the group's wider strategic plan other than to curb any HML acquisition activity in the immediate future," said HML.

In the short term, a reduction in a number of ancillary revenue streams would impact its financial performance, but HML expects that this would not have lasting economic consequences once Downing Street starts to open up the economy.

As of 1040 BST, HML shares were down 1.67% at 23.60p.