In a statement released this morning, the group further revealed that while it had a net cash balance of £74m as of 29 February 2020, to mitigate the financial challenge of the ongoing coronavirus pandemic it has also reduced its cost base by 15% and it is applying for a number of government subsidies around the globe.

The group added it will update the market on its Q1 performance as planned on 8 April 2020.

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