May 22 (Reuters) - Avjennings Ltd (AVJ) : EXPECTED FY20 TO BE...

May 22 (Reuters) - Avjennings Ltd (AVJ) :

• EXPECTED FY20 TO BE STRONGER THAN FY19, STATEMENT NO LONGER VALID
• MOST STAFF HAVE AGREED TO MOVE TO A FOUR DAY WEEK
• UPDATE ON COVID-19 IMPACT
• "SENIOR EXECUTIVES HAVE ALSO AGREED TO INITIATIVES THAT WILL HELP TO IMPROVE CASH AND PROFIT OUTCOMES"
• BOARD OF DIRECTORS HAVE ALSO AGREED TO REDUCE THEIR FEES
• BOTH SALES AND ENQUIRY LEVELS BELOW LEVELS ANTICIPATED BUT ABOVE SHORT-TERM EXPECTATIONS
• NET CONTRACT SIGNINGS IN FEBRUARY, MARCH AND APRIL WERE 100, 57 AND 51 RESPECTIVELY
• NET CONTRACT SIGNINGS IN MAY TRACKING BROADLY IN LINE WITH APRIL