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Pin to quick picksIconic Labs Share News (ICON)

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UK TRADING UPDATE SUMMARY: Novacyt Gets WHO Covid-19 Test Kit Okay

Wed, 08th Apr 2020 14:46

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

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Novacyt SA - clinical diagnostics - Says Covid-19 testing kit eligible for emergency use process, the fast tracking availability designation by the World Health Organization. Partners with AstraZeneca PLC, GlaxoSmithKline PLC and University of Cambridge to ramp up Covid-19 testing.

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Oxford Biomedica PLC - gene and cell therapy - Joins consortium of companies working on Covid-19 vaccine.

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Capital Drilling Ltd - mining services - Says final dividend will now be classed as an interim payout due to delay of holding annual general meeting amid Covid-19 lockdown.

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Panther Metals PLC - mineral exploration - Says directors pay has been cut by 51% and all service provider contracts have been suspended.

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Tri-Star Resources PLC - minerals processing - Says Covid-19 has had little impact on the Strategic & Precious Metals Processing LLC antimony and gold production facility, in which it has a 40% stake. Delays annual results as travel curbs means auditors unable to review SPMP accounts.

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Enteq Upstream PLC - oilfield services - Hurt by Covid-19 and fall in oil prices. Says it has cut US workforce by 60%. Expects earnings in line with expectations in year ended March 31, with revenue of USD11 million and adjusted earnings before interest, tax, depreciation and amortisation of USD3 million.

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Wentworth Resources PLC- natural gas - Says full-year results to be published later in April, following Financial Conduct Authority guidance. Expects results in line with internal expectations and company yet to be impacted by Covid-19.

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Porvair PLC - filtration and environmental technology - Supplying filtration equipment for ventilator makers across the globe, including to a UK consortium fronted by the Mercedes Formula One racing team. Does not believe it needs to change final dividend recommendation to save funds.

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Gooch & Housego PLC - optical components and systems manufacturer - Demand in Japan, South Korea and China improves but weaker in US and Europe. Expects "material short-term impact" from Covid-19. Says all UK manufacturing sites running but at reduced capacity.

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Remote Monitored Systems PLC - data collection and surveying - Says Cloudveil subsidiary sees increased demand, providing service to two security guarding firms managing risks associated to Covid-19.

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Osirium Technologies PLC - cybersecurity - Has seen little impact on trading from Covid-19 but has temporarily frozen new hires and cut non-discretionary spend. Renews contract with two UK regional police authorities for cyber-protection of 1,000 devices.

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Ethernity Networks Ltd - network technology and security - Covid-19 has not had "material impact" on trading, but company says directors have taken 50% pay cut, with 20% of the reduction deferred.

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Iconic Labs PLC - media and technology - Says online and social media Covid-19 fact-checking service Infotagion has had one million readers.

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Fastjet PLC- Africa-focused low cost airline - All airline employees have taken pay cuts as high as 30%, and non-essential workers on paid annual leave. In talks to dispose of holding in Zimbabwe subsidiary and has enough cash resources to continue operating until June.

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Centaur Media PLC - events and marketing - Cuts most of marketing costs, halts recruitment and furloughs some employees to save costs. Moved two The Lawyer events to the fourth quarter of 2020 from the second quarter. Plans for Festival of Marketing event to proceed in October. Defers annual general meeting to June 30 so final dividend payment delayed.

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Everyman Media Group PLC - cinema group - Raises GBP17.5 million in oversubscribed placing. Everyman placed 17.5 million shares at 100 pence each to shore up finances amid site closures due to Covid-19.

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Empresaria Group PLC - recruiter - Says demand slumped from mid-March due to Covid-19, forcing company to slash costs and furlough employees. Cancels final 2019 dividend and says no guidance for current financial year.

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Robert Walters PLC - recruiter - Reported 11% annual fall in first quarter net fee income to GBP87.4 million, including 29% plunge in UK alone. Says Covid-19 hurt first-quarter performance and expects even more challenging second quarter.

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St James House PLC - lottery and e-commerce operator - Says Astro Kings five-a-side football site joint-venture in Nottingham forced to close due to lockdown measures. Lottery division is largely unhurt by Covid-19 but reports minor impact on payments division.

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Marble Point Loan Financing Ltd - investment firm - Suspends declaration of dividends due to virus outbreak. Says difficult to predict Covid-19 impact on collateralized loan obligation market.

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RiverFort Global Opportunities PLC - investor - Seeing increasing number of investment opportunities despite pandemic. Says it is well-funded with cash balances of GBP2.8 million.

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Tavistock Investments PLC - fund manager - Says Covid-19 and UK government imposed lockdown to hurt company's performance. Adds no dividend will be paid at present and executive team have volunteered to waive "significant proportion" of income.

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Fiske PLC - stockbroker and investor - Says trading since late-February has been in line with board expectations and March commission revenue higher than usual due to market volatility. Has furloughed staff where possible.

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Urban Logistics REIT PLC - real estate investment trust - Only four of 38 properties in portfolio not operational due to Covid-19 lockdown measures. Says too early to outline full impact from virus. Acquires nine logistics sites for GBP56.1 million altogether.

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Real Estate Investors PLC - real estate investment trust - receives "high percentage" of rent due for March. Completed GBP779,000 worth of lease renewals, despite UK government lockdown.

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Zambeef Products PLC - food producer - Agrees to delay disposal of its Sinazongwe farm to April 24.

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Real Good Food PLC - food ingredients - Says revenue in year to March 31 in line with expectations, but March trading hurt by health crisis. Expects "material impact" on first-quarter sales.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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