In May 2020 AKG issued their view of the Embark Group’s position regarding Covid-19 as follows:
- In response to the pandemic, the Group's 'business continuity plans' appeared to have been activated in a timely fashion across all the businesses and office locations. This has resulted in over 95% of the workforce operating from home with all activities being performed remotely, away from core office locations.
- The business has demonstrated clear business continuity planning and preperation, and this should leave the business in a good position to deal with further emerging aspects of the crisis and to be able to handle the operational challenges presented
- Within this Embark specifically states that it has maintained all SLAs; all phone lines have remained open; and there has been no significant impact on customer service.
- The acquired SIML business has also been able to demonstrate an effective transition in working practice and maintain its continuity and stability in the context of the COVID-19 pandemic
- In terms of financial impact, the Embark Group demonstrates good liquidity, significantly enhanced by the acquisition of SIML, and a strong capital base which is important for each of its component companies (as assessed by AKG from the perspective of customers and their advisers), as well as now having a range of large institutional shareholders. It will also see further strengthening from the acquisition of SIML.
Visit our dedicated COVID-19 page for further updates from Embark Group
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