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Grafenia To Take Longer To Reach Monthly Breakeven Target

Wed, 25th Mar 2020 15:31

(Alliance News) - Grafenia PLC on Wednesday warned that near-term sales visibility has become "clouded" and said that it will take longer to reach its monthly breakeven goal by March 31 on earnings before interest, tax, depreciation and amortisation basis.

"We are taking all possible steps to control overheads during the crisis, but the trading environment is changing on a day by day basis and forecasting is challenging," the printing business said.

The company's trading in the second half of financial 2020 was mixed, with some months slightly ahead year-on-year and some months slightly behind.

Grafenia, however, said that closure of several clients due to UK government guidelines means sales visibility will be hard to predict.

"It is likely that the print sector will be impacted significantly by the current market conditions. Volumes have been falling, margins eroding and an oversupply have already created a tough trading environment. Coronavirus seems certain to remove capacity further," the company explained.

Peter Gunning, chief executive of Grafenia, said: "These are unprecedented times for our industry. We're asking business owners who previously might not have been considering a sale to get in touch. There's increased safety being part of a larger group. We have access to capital to execute our strategy. We can move quickly to help otherwise sustainable businesses who've been impacted by recent events. Any interested businesses should email letmein@grafenia.com to start the process."

Shares in Grafenia were up 20% at 4.50 pence each in London on Wednesday afternoon.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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IN BRIEF: Grafenia to raise GBP27.9 million to pursue further growth

Grafenia PLC - Manchester-based printing and software company - Plans to raise GBP23.0 million via a placing and subscription at 8.5p per share, and GBP4.9 million through an open offer to shareholders at the same price. Proceeds will fund future acquisitions, repurchase some of the company's existing bond arrangements and pay deferred consideration on previous acquisitions.

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26 Jul 2023 14:46

EARNINGS SUMMARY: CyanConnode revenue rises, Grafenia loss widens

(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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1 Jun 2023 11:57

IN BRIEF: Grafenia says waiting for payment for Works disposal

Grafenia PLC - Manchester-based printing and software company - Says it has not received payment of a deferred consideration for a disposal that took place last year. Last May, the firm sold its wholly-owned subsidiary Works Manchester Ltd and some of the business and assets of its wholly-owned subsidiary Grafenia Operations Ltd for GBP3.2 million to Rymack Sign Solutions Ltd, which trades as PFI Group. As part of the sale, four instalments of GBP766,250 were due on the first, second, third and fourth anniversaries of completion. The amount for the first instalment has since been adjusted down to GBP514,223.

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3 May 2023 17:57

TRADING UPDATES: Grafenia "cautiously optimistic" about year ahead

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

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17 Feb 2023 13:37

Grafenia buys Irish property management software firm Topfloor Systems

(Alliance News) - Grafenia PLC on Friday said it has acquired Topfloor Systems Ltd, a Dublin-based company, for EUR6.2 million in cash.

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18 Jan 2023 10:22

Grafenia buys Care Management for GBP3.5 million cash consideration

(Alliance News) - Grafenia PLC on Wednesday said it bought the entire share capital of Care Management Systems Ltd for a total cash consideration of GBP3.5 million.

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24 Nov 2022 12:52

EARNINGS UPDATES: Motorpoint's interim profit plunges amid challenges

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27 Sep 2022 21:54

TRADING UPDATES: Pendragon to assess options; Grafenia issues bonds

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UK shareholder meetings calendar - next 7 days

Thursday 8 September 
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Caretech Holdings PLCGM takeover by Sheikh Holdings Group
Chariot LtdAGM
Chelverton UK Dividend Trust PLCAGM
Currys PLCAGM
Euromoney Institutional Investor PLCGM re takeover offer by Astorg and Epiris
Gabelli Merger Plus+ Trust PLCGM tender offers
Invesco Asia Trust PLCAGM
LendInvest PLCAGM
Lindsell Train Investment Trust PLCAGM
Montanaro European Smaller Cos Trust PLCAGM
Polar Capital Technology Trust PLCAGM
ScotGems PLCGM re voluntary liquidation
Semper Fortis Esports PLCAGM
Severfield PLCAGM
Speedy Hire PLCAGM
SysGroup PLCAGM
WH Ireland Group PLCAGM
XPS Pensions Group PLCAGM
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BH Macro LtdAGM
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Gear4Music Holdings PLCAGM
Newcrest Mining LtdAGM
Pensana PLCAGM
ReNeuron Group PLCAGM
SVM UK Emerging Fund PLCAGM
Victoria Oil & Gas PLCAGM
Voyager Life PLCAGM
Monday 12 September 
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SDCL Energy Efficiency Income Trust PLCAGM
Warehouse REIT PLCAGM
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Alpha Financial Markets Consulting PLCAGM
Industrials REIT LtdAGM
Mercia Asset Management PLCAGM
R&Q Insurance Holdings LtdSGM
Rockwood Strategic PLCAGM
Wizz Air Holdings PLCAGM
Wednesday 14 September 
Augmentum Fintech PLCAGM
B90 Holdings PLCAGM
Best of the Best PLCAGM
Dev Clever Holdings PLCAGM
Fulcrum Utility Services LtdAGM
Grafenia PLCAGM
Hornby PLCAGM
Marlowe PLCAGM
Purplebricks Group PLCAGM
Sutton Harbour Group PLCAGM
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

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27 Jul 2022 12:01

EARNINGS UPDATES: Yourgene posts record revenue; Solid State payout up

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19 May 2022 17:04

IN BRIEF: Grafenia pivots to software licencing following disposals

Grafenia PLC - Manchester-based printing and software company - Sells its wholly-owned subsidiary Works Manchester Ltd and some of the business and assets of its wholly-owned subsidiary Grafenia Operations Ltd for GBP3.2 million to Rymack Sign Solutions Ltd. Company says the consideration will be paid in several instalments. The disposal is expected to be finalised within three to four weeks. Says the disposal will see the company transition to a software licensing business.

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6 Apr 2022 14:50

IN BRIEF: Grafenia looks to new year with cautious optimism

Grafenia PLC - Manchester-based printing and software company - Expects sales in the year ended March 31 of GBP12.0 million which would represent a 24% increase on the previous year's figure of GBP9.7 million if achieved, though still below its pre-pandemic level. Company expects a smaller pretax loss and earnings before interest, tax, depreciation and amortisation to be positive. Describes itself as "cautiously optimistic" about the upcoming year. Notes price rises across the board, with paper in particular increasing by 30 to 50%.

Read more

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