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While the name of the rIval that tried to undercut
11th March 2010, Page 16
11th March 2010
Page 16
Page 16, 11th March 2010
— While the name of the rIval that tried to undercut
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Europa remains strictly off the record, Europa is slili looking to rebuild itself after a tough financial performance in 2009.
Kennedy reveals that its turnover fell by nearly 10% in 2009, but it is on target to return to 2008's revenue levels by the end of this year.
He states: "We will end the year [2009] 9.9%
down on revenue, but we still made a profit, Our bad period was between November 2008 and May 2009.
He adds: "Everything fell off a cliff face. We were running 15% down. We will drop from £58m [turnover] to £53m [turnover for 2009]. but we're looking to be back at £58m later this year. In January, we won new contracts worth ELlm.”