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Expert predicts ‘no business recovery until summer 2021’

by LLB Editor
20th Jul 20 1:03 pm

Almost half of finance directors at Britain’s biggest companies do not expect demand for goods and services to return to pre-lockdown levels until next July at the earliest.

According to Deloitte’s closely watched quarterly survey — which tracks the views of 109 finance leaders, including the chief financial officers of 69 FTSE 350 businesses — only 8% of finance directors are planning for sales to get back to normal before the end of this year, while 49% expect the recovery to take at least a year. Tom Howard has more on the report, which was released overnight, here.

There is also sobering news for investors this morning which have been warned to brace for the “biggest hit to dividends in generations”. Dividends dropped by 57.2% year-on-year to £16.1bn in the three months to the end of June, according to research by Link Group.

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