UP Global Sourcing Holdings plc Reports Revenue Results for the Year to Date Ended April 24, 2020; Provides Earnings Guidance for Fiscal 2020
Until early March, the Group was trading well and in line with expectations, despite the supply chain challenges in China. However, the prevailing issues on the demand side mean that the Board is anticipating a significant drop in revenue in second half of fiscal 2020 compared to previous expectations which will impact the overall profitability for fiscal 2020. The overall picture remains volatile and unpredictable making it difficult to forecast.