WH Ireland has continued to make good progress in returning the business to profitability with a strong and effective control framework. Progress on revenue and cost actions were sufficient to see a small profit in the month of January consistent with expectation of returning to monthly profitability by the start of the new financial year. However, both February and March experienced a loss, as market levels and corporate activity were impacted by the COVID-19 pandemic. In the last few weeks, the impact of COVID-19 on Corporate and Institutional activity has been notable, and the reduction in market levels has reduced Wealth Management income. As a result, the Company is not expected to achieve monthly profitability by the start of the new financial year. The Company expects to report an operating loss before exceptional items for the 12 months ending 31 March 2020, of approximately £2.2 million on revenue of approximately £21.3 million.