Considerable cuts in travel expense expected long-term
Today we had the pleasure of hosting CEO Jon Sigurdsson, for our ABGSC conference call. On the call Jon provided an update on the latest Q2 results, which saw a strong sales recovery in all segments leaving the CEO comfortable with current FY’21 guidance. The CEO furthermore elaborated on some potential long-term effects of COVID. While COVID has been predominantly negatively impacting the company for the past year and a half, it has led the company to revaluate its cost base, to manage costs in line with sales recovery. And while most costs are returning to pre-COVID levels, in line with sales recovery, the travel expenses have been considerably cut down and is expected to remain well below the pre-COVID benchmark in the long-term. This is due to the company’s ability to operate in an equally efficient manner, with the use of online tools such as teams etc.
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