FINANCIALS: Parity Group ‘encouraged by return of activity and prospects’

Data and technology focused professional services group Parity Group says it is “encouraged by the recent return of activity and prospects”.

In a trading update for the first six months of the year, the company says it is “now seeing the return of new sales opportunities, following the severe reduction to early stage opportunities and projects at the height of the pandemic”.

As a result of decisions taken in 2019 to restructure the business, the company says that rather than having to furlough any of its staff, it has been in a position to recruit seven new people into the business during the last three months to support its growth ambitions.

The company says it remained cash positive at the end of June, and that it anticipates that for the six months ended 30 June it will report revenues of approximately £30m and a modest adjusted profit before tax (before non-underlying items).

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