UK's East Imperial falls as production issues hit HY results
29/09/2023 09:35
** Shares of beverage maker East Imperial EISB.L down
14.9% at 2 pence
** Stock set for biggest one-day pct fall in nearly two
months, if losses hold
** EISB says revenues stalled in Q2 due to pause in
production as business rationalised resources, anticipated cash
injection delayed
** Says 2.2% fall in H1 rev to 1.3 mln pounds ($1.59
million) "a surprisingly small decline" given supply issues
** Forced to pause all production and supply solely through
our inventory holding, and today's results reflect the impact of
our cash constraints - CEO Anthony Burt
** EISB says with production and supply returning to normal,
management confident that co will be able to improve revenues
** Sharply focused on margin improvement opportunities in
the medium term and on driving profitable top-line growth, co
adds
** Stock down ~27% YTD
($1 = 0.8165 pounds)
(Reporting by Richard Rohan Francis in Bengaluru)
((Richardrohan.francis@thomsonreuters.com))