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Share Price: 7.05
Bid: 6.90
Ask: 7.20
Change: -0.60 (-7.84%)
Spread: 0.30 (4.348%)
Open: 7.65
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Low: 7.05
Prev. Close: 7.65
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UK TRADING UPDATE SUMMARY: Record Stands To Benefit From Volatility

Fri, 17th Apr 2020 12:06

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

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Record PLC - currency management - Has not been forced to cut wages or use government financial help schemes due to Covid-19. Reports fourth quarter assets under management equivalents down 9.4% to USD58.6 billion from USD64.7 billion at the end of December. In year to March 31, AUME grew 2%, with client numbers up 11% to 72. "Poised" for more growth amid market volatility.

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Urban Exposure PLC - asset manager - Says out of workforce of 30, three new hires cancelled and 13 roles either furloughed or given reduced hours. Says no bonuses for 2019, saving GBP2.1 million and chief executive, chief operating officer, chief revenue officer and chief financial officer take 10% pay cut. To report GBP200,000 pretax profit for 2019, on revenue of GBP9.0 million. Will not pay final dividend, saving GBP5.3 million.

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Panther Securities PLC - property investor - Says 41% of income comes from businesses that have not been forced to close due to lockdowns. Says too early to predict impact from virus on 2020 earnings. To pay a further 6 pence dividend for 2019.

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ECSC Group PLC - cybersecurity - Places 909,091 shares at 55p each to raise GBP500,000. Placing proceeds used to strengthen finances during pandemic and to ensure "longer-term growth opportunities" when virus crisis stabilises.

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WANdisco PLC - Data and AI - Delays publication of 2019 results due to Covid-19. To release annual report in June.

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SRT Marine Systems PLC - maritime tracking - Completes "Covid-19 resilience financing", securing GBP5.3 million through equity issues and loans. Inked GBP2.8 million from investors and agrees GBP2.5 million loan facility.

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Catenae Innovation PLC - digital media - Joins Cov-ID consortium which aims to record a patients Covid-19 test status.

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Bloomsbury Publishing PLC - publisher - Plans to raise GBP8.4 million through placing of 3.8 million shares at 223.25p each due to Covid-19. Says government lockdowns in key markets like UK, Australia and India has hit book sellers like WH Smith PLC, Barnes & Noble and Waterstones.

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Horizon Discovery Group PLC - cell engineering - Plans placing of 6.8 million shares. Based on 128p share price on Friday morning, it would secure GBP8.7 million. Says equity issue is to shore up finances amid Covid-19.

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Victoria Oil & Gas PLC - gas producer - Says a number of crew in Cameroon evacuated due to lockdowns. Says 5.1 million standard cubic feet per day of gas plus 1,656 barrels of condensate produced in first quarter of 2020. First quarter net revenue was USD5.3 million.

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W Resources PLC - copper and gold miner - Total of 274,000 tonnes of run of mine ore fed to La Parrilla mine, Spain during first quarter, up sharply quarter-on-quarter from 113,322 tonnes. Tungsten output rises to 3,305 metric tonne units from 968 in fourth quarter, metal more than doubles to 12.1 dry metric tonnes from 3.9. Says no personnel or contractor affected by Covid-19 and closure of non-essential services which hit Spanish operations has been lifted.

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Goldplat PLC - gold producer - Says operations in Ghana, South Africa and Kenya affected by Covid-19 restrictions. Restarting operations in SA on reduced basis from Monday. Mining sector classed as essential in Ghana.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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