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Share Price: 126.50
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Change: -1.00 (-0.78%)
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UK TRADING UPDATE SUMMARY: Quartix Annual Earnings To Beat Consensus

Thu, 22nd Oct 2020 14:58

(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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Quartix Holdings PLC - vehicle tracking - For 2020, adjusted earnings before interest, taxes, depreciation and amortisation set to be 15% ahead of consensus expectations, which stands at GBP6.9 million. Revenue is set to be line with consensus expectations, which was GBP25.8 million. In the first nine months of 2020, Quartix achieved 7% revenue growth, as the subscription base rose by 11%.

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XPS Pensions Group PLC - pensions advisory - Performance for the six months to the end of September was in line with management expectations, with revenue growing by 6%, on strong trading from all businesses. As a result, expects full-year results in meet management expectations. In particular, Pensions Investment Consulting was buoyed by added project work as a result of Covid-19 related market volatility.

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SDI Group PLC - Cambridge-based medical technology firm - Reported a very good start to its financial year ending April 30, 2021, due to significant contracts won by two of its businesses Atik Cameras and MPB Industries. Other businesses have seen their customer order patterns start to return towards normality. For the year, expects pretax profit and sales to be above market expectations.

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Futura Medical PLC - Surrey-based pharmaceutical company - Comes to agreement with US Food & Drug Administration on design and scope of small supplementary study FM71 for the reassurance of MED3000's efficacy in erectile dysfunction. Based pre-submission discussions, FM71 will be a comparative, randomised, open label, home use, parallel group study in 100 patients. EU approval process for MED3000 is ongoing.

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Trifast PLC - Industrial fastenings firm - Since annual general meeting in September, trading has been ahead of base case assumptions made for its current financial year ending March 31. For October alone, trading level has started well in sales and orders. However, for the first half ended September 30, revenue declines have been consistent, except for in Europe where the recovery has been faster. Gross margins still remain lower due to the reduction in sales.

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Gear4music Holdings PLC - musical instruments retailer - For the six months to the end of September, total sales rose by 42% to GBP70.2 million from GBP49.4 million the year before, leading to a 60% rise in gross profit to GBP20.0 million from GBP12.5 million.

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Cloudcall Group PLC - communications company that provides unified communications and contact centre software - For 2020, expects revenue to be ahead of expectations, and in the range of GBP11.5 million from GBP12.0 million, up from GBP11.4 million the year before. Also plans to launch its new Property & Real Estate market vertical, starting with three new property focused CRM integrations for Left Main, Propertybase and Apto.

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1PM PLC - Bath-headquartered finance provider to small and medium-sized enterprises - Trading in first four months of current financial year ending May 31, 2021, as trading momentum improves alongside trends in business activity. Arrears in lending book have fallen by more than GBP5 million since the end of May, reflecting an improvement.

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Trans-Siberian Gold PLC - the gold ore mining company in Kamchatka, Far East Russia - For the third quarter of 2020, gold doe production down by 8.3% to 11,570 ounces from 12,620 the same period the year before. Silver output down 44% at 13,880 ounces from 24,686 ounces. Gold sales rose to 11,070 ounces, however silver sales drop by 32% to 14,843 ounces. Keeps annual production guidance of 38,000 to 42,000 ounces.

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Resolute Mining Ltd - operator of Syama gold mine, Mali - For third quarter of 2020, gold production down at 87,303 ounces compared to 103,201 ounces the year before, due to industrial action at Syama mine. Gold sales drop to 90,900 ounces from 127,265 ounces. Annual production expected at lower end of guidance at 400,000 to 430,000 ounces.

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Shearwater Group PLC - London-based cybersecurity services provider - For the six months to the end of September, expects underlying earnings before interest, taxes, depreciation and amortisation at around GBP1 million, in line with the year before, on revenue that is set to fall by 32% to GBP11 million from GBP16.3 million.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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