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Wigton says pandemic may impact profits

Wigton Windfarm recorded increased profits for its 2019/2020 financial year which ended on March 31.

Despite the increase in profit, the company has said that the COVID-19 pandemic has been affecting its business.

While the damage from the pandemic is not yet quantifiable, The Den understands that the entity has experienced material disruptions and changes to significant parts of its operations, including production.

Wigton’s position is not unique, as several international firms have revealed that the pandemic has severely curtailed expectations, in terms of profit, for the second quarter of 2020.

The pandemic has been disrupting the renewable energy sector with many firms citing problems with supply chains among a myriad of other issues.

Wigton’s revenue for the past financial year amounted to $664 million up from $512.6 million; $2.4 million is attributed to revenues earned from sales.

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