CLT cellnet group limited
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News: CLT Cellnet Group Says Revenue In April About 60% Lower Than Expected Pre-Covid-19 Revenue...

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    01/05/20
    18:10
    Post #: 44387413

    May 1 (Reuters) - Cellnet Group Ltd (CLT) :

    • REVENUE IN APRIL ABOUT 60% LOWER THAN EXPECTED PRE-COVID-19 REVENUE FOR MONTH
    • IMPLEMENTED NEGOTIATED 25% REDUCTION IN BOARD & 20% REDUCTION IN CO-WIDE EMPLOYEE REMUNERATION
    • ALL EMPLOYEES MOVING TO 4 WORKING DAYS PER WEEK AND A CORRESPONDING 20% REDUCTION IN SALARY AND WAGE COST
    • SIGNIFICANT REDUCTION IN REVENUE IS EXPECTED TO CREATE A MATERIAL LIQUIDITY SHORTFALL
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