AFH cuts debt during lockdown but warns 2020 earnings face hit

It said cash remained the primary focus of the board and the business had remained profitable and cash generative during the summer period.  The statement said the firm had taken steps to reduce the outstanding deferred consideration and other unsecured debt, repaying £752,000 of 8% Loan Notes in early September and over £3m in deferred consideration since April. It added that while the board had maintained a salary reduction, the company was able to "return staff back to their full remuneration as confidence in the business model and the resilience of the existing business in this ne...