Harvest Technology plc – Q1 2021 Financial Update

May 6, 2021
|In Company Announcements
|By Jesmond Mizzi Financial Advisors

Harvest Technology plc announced the following highlights of the financial results of the Company and its subsidiaries (the “Harvest Group”) as at March 31, 2021, as extracted from the unaudited management accounts of the Company as at such date:

  • the unaudited consolidated net profit before tax of the Harvest Group as at end March 2021 amounted to €1,117,061. This marks an improvement of 7% over the projected consolidated net profit before tax of the Harvest Group for the period and a 34% increase of the net profit before tax for the same period in the preceding year;
  • the gross profit margin of the Harvest Group for the quarter improved by 10 percentage points to 51%;
  • EBITDA margin for the quarter recorded by the Harvest Group improved by 9 percentage points to 30%.

Going forward, as economies adjust to the post-COVID era, the Harvest Group will continue to invest in the group’s business with a view to pursuing its growth strategy. In this light, the Board is re-iterating its net profit before tax target of €4,000,000 for the financial year ending December 31, 2021.

The Board of Directors of the Company expects to distribute an aggregate dividend amount similar to that distributed in the preceding financial year, split over two interim payments during the course of
2021 and a final dividend in the first part of 2022.

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