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Pin to quick picksCeps Share News (CEPS)

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Share Price: 17.50
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UK TRADING UPDATE SUMMARY: Kromek To Make 2,000 Ventilators For UK

Wed, 15th Apr 2020 14:32

(Alliance News) - The following is a round-up of updates by London-listed companies on the impact of the Covid-19 pandemic, issued on Wednesday and not separately reported by Alliance News:

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Kromek Group PLC - medical technology - Will manufacture medical ventilators in UK under license from Japanese supplier Metran Co Ltd. Expects to begin production before end of April and to produce 2,000 ventilators within 12 weeks to help with the health crisis.

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Diurnal Group PLC - pharmaceuticals - Yet to experience any delays to regulatory process for Chronocort medication for congenital adrenal hyperplasia, an adrenal gland disorder. Revenue for Alkindi cortisol shortage drug in line with board expectations.

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Tissue Regenix Group PLC - medical devices - Secures USD629,000 US government loan with two-year term and 1% interest rate. Says first-quarter revenue jumped 18% year-on-year despite January cyber security incident in San Antonio facility in January.

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Columbus Energy Resources PLC - oil and gas - Says executive management taking no salary for three months, employees taking 40% pay cut and 15% of workforce laid off.

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Regal Petroleum PLC - gas producer - Expects no material disruption from Covid-19. Reported year-on-year first quarter output rise of 4.7% to 4,508 barrels of oil equivalent per day.

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Echo Energy PLC - oil and gas - Cuts Santa Cruz Sur, Argentina monthly costs by 50%. Suspends completion of inflow testing of Campo Limite well amid travel restrictions due to virus.

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URU Metals Ltd - exploration and development - Says environmental impact assessment phase of project in South Africa delayed due to Covid-19 lockdown. Application will continue when curbs lifted. URU preparing application for EIA phase extension.

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Rainbow Rare Earths Ltd - rare earth elements miner - Says import and exports of goods in Burundi permitted through land border with Tanzania. Exported further 100 tonnes of concentrate from Gakara rare earths mine in Burundi.

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Ncondezi Energy Ltd - coal miner - Warns timetable of coal mine in Tete, Mozambique subject to delays due to Covid-19. Expects tariff negotiations with energy company Electricidade de Mocambique to be concluded in second quarter of 2020.

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Chaarat Gold Holdings Ltd - gold producer - To raise USD12 million through placing. Largest shareholder Labro to invest USD10 million. Board members, senior management, the company's largest institutional shareholder, and other existing investors have agreed to subscribe for at least USD2 million.

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Velocys PLC - fuels technology - Accepted for USD709,000 loan from US government's Covid-19 pay-check protection programme. Loan carries 0.98% interest and two-year maturity.

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Solid State PLC - electronic components - Designated a key business by UK government so manufacturing sites still in operation. Expects full-year revenue close to consensus forecast of GBP68 million and adjusted pretax profit about 10% higher than GBP4.2 million forecast.

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Pebble Beach Systems Group PLC - content management software - To release 2019 results on April 30 following delay due to Covid-19. Non-Executive Director Robin Howe to step down and Iomart PLC Chief Financial Officer Richard Logan to join board on May 1.

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Beeks Financial Cloud Group PLC - cloud computing - Says minimal impact from Covid-19 so far, with new business continuing to grow. Acquires UK-based network monitoring firm Velocimetrics Ltd for GBP1.3 million.

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Telit Communications PLC - internet of things - Seeing slowdown in demand due to pandemic. But still expects annual revenue growth. Launches cost-cutting plan, including 15% salary reduction among senior staff.

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Prime People PLC - recruiter - Furloughs roughly 40% of workforce, reducing discretionary spending and managing cash. Says demand has reduced amid Covid-19.

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Driver Group PLC - consultant - Reports first half was not hurt by outbreak and expects to meet underlying pretax profit forecasts. Planning for future virus impact on activity levels. Will not pay interim dividend, postpones non-essential spend, and draws down full GBP3.0 million revolving credit facility.

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CEPS PLC - investor - Says its subsidiaries are seeking rent deferments and furloughing staff where possible. CEPS board taking pay cuts or deferring salary.

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U&I Group PLC - regeneration and development - Says project timelines hit by Covid-19, as they were with Brexit and UK general election. Expects annual gross development and trading gains of roughly GBP16 million, below previous GBP35 million to GBP45 million guidance. No longer recommending final dividend and withdraws guidance.

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Picton Property Income Ltd - property investor - Collected 71% of March rent in England and Wales, compared to 95% in year prior. Refurbishment work at Stanford Building in Covent Garden halted in line with UK government guidelines for social distancing. Has no plans to furlough staff or pursue government financial assistance.

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Yew Grove REIT PLC - real estate investment trust - Hails "robust" first quarter rent collection and second quarter in line with expectations.

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OnTheMarket PLC - property portal - Has furlough 32 staff, representing 22% of workforce. Cutting discretionary marketing spend. Continuing with 33% listing fee discount on agents using portal.

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Live Co Group PLC - live events - Has furloughed roughly 50% of staff and all staff earning over GBP2,500 to take 25% pay cut in April and 50% reduction in May. Targeting GBP250,000 in annual savings through redundancies. Says no BRICKLIVE lego brick events cancelled but some postponed.

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GYG PLC - super yacht maintenance - Agrees with its lenders to reschedule payment of GBP4.0 million loan which was due for repayment in March 2021. Has restarted operations in Barcelona as lockdown measures eased.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Thursday 14 March 
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Blackrock Sustainable American Income Trust PLCAGM
Friday 15 March 
BlackRock Energy & Resources Income Trust PLCAGM
Chrysalis Investments LtdAGM
Quantum Exponential Group PLCGM re delisting from AQSE
TruSpine Technologies PLCAGM (adjourned 2022)
United Oil & Gas PLCGM re fundraise and share sub-division
Monday 18 March 
MGC Pharmaceuticals LtdGM re change of company name to Argent Biopharma
Schroder European Real Estate Investment Trust PLCAGM
Tuesday 19 March 
BlackRock Throgmorton Trust PLCAGM
Crest Nicholson Holdings PLCAGM
Eco Animal Health Group PLCGM re share buybacks
Gresham House Renewable Energy VCT 1 PLCAGM
Gresham House Renewable Energy VCT 2 PLCAGM
Nuformix PLCAGM
Scirocco Energy PLCGM re requisitioned resolution to implement cash strategy
Various Eateries PLCAGM
Wednesday 20 March 
abrdn Property Income Trust LtdGM re merger with Custodian Property Income REIT PLC
BSF Enterprise PLCAGM
CEPS PLCGM re capital reduction
MTI Wireless Edge LtdAGM & EGM re appointing Hani Lerman as external director
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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5 Feb 2024 20:23

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11 Oct 2023 14:16

IN BRIEF: CEPS says Vale Brothers files second administrators notice

CEPS PLC - Bath, England-based investment company focussed on industrial sector - Says that equestrian products maker Vale Brothers Ltd, a subsidiary of CEPS's 33%-owned investee company Vale Brothers Group Ltd, filed a second notice of intention to appoint administrators on October 9. Says this will allow the company and the proposed administrators additional time to progress the sale of the business and assets of the company.

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5 May 2023 12:06

IN BRIEF: CEPS achieves annual revenue and profit rises

CEPS PLC - Bath, England-based investment company focussed on the industrial sector - Posts revenue of GBP26.4 million for 2022, up from GBP20.3 million in 2021. Says the increase has resulted from an increase in the underlying businesses, the "full 12-month impact of acquisitions made in 2021, along with the partial year impact of an acquisition made in 2022". Pretax profit rises to GBP1.3 million from GBP996,000, as operating profit rises to GBP2.1 million from GBP1.6 million a year earlier. Looking ahead, expects inflation to decline sharply by the end of the year. Says the firm has in the first quarter of 2023 has performed ahead of expectations.

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5 May 2023 12:02

IN BRIEF: CEPS achieves annual revenue and profit rises

CEPS PLC - Bath, England-based investment company focussed on the industrial sector - Posts revenue of GBP26.4 million for 2022, up from GBP20.3 million in 2021. Says the increase has resulted from an increase in the underlying businesses, the "full 12-month impact of acquisitions made in 2021, along with the partial year impact of an acquisition made in 2022". Pretax profit rises to GBP1.3 million from GBP996,000, as operating profit rises to GBP2.1 million from GBP1.6 million a year earlier. Looking ahead, expects inflation to decline sharply by the end of the year. Says the firm has in the first quarter of 2023 has performed ahead of expectations.

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29 Sep 2022 15:09

EARNINGS UPDATES: Crestchic raises outlook on record year-to-date

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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13 Jun 2022 19:26

IN BRIEF: CEPS to wind up pension scheme; trading beats expectations

CEPS PLC - Bath, England-based investment company focussed on the industrial sector - Pension scheme to be wound up with effect from June 1, following buy-in contract with Aviva PLC.

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10 May 2022 13:58

TRADING UPDATES: CEPS swings to profit; Macfarlane managing inflation

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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3 May 2022 21:55

TRADING UPDATES: Vela, Standard Life Investments up portfolio value

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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12 Apr 2022 21:51

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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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17 Sep 2021 15:07

IN BRIEF: CEPS raises GBP1.6 million to fund Aford acquisitions

IN BRIEF: CEPS raises GBP1.6 million to fund Aford acquisitions

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