Almost half of financial bosses at 25 leading UK agencies are expecting a drop in income for the current financial year of at least 20% as a result of the coronavirus pandemic, according to research carried out by wealth management company Connor Broadley.
Conducted via a live forum just before Easter (on 9 April), the study found that a third (32%) of chief financial officers and finance directors predicted a 20-30% hit to their agencies' income, while one in six anticipated more than a 30% decline. A further 32% expected a decline of 10-20%, with the remaining 23% expecting a fall of less than 10%.
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