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UK TRADING UPDATE SUMMARY: Gear4music Strikes Right Note As Sales Jump

Thu, 23rd Jul 2020 18:02

(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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Gear4music Holdings PLC - musical instruments retailer - Revenue in three months to June 30, its first quarter, surged 68% to GBP37.3 million. UK alone sales jumped 80% to GBP21.2 million. Covid-19 lockdown created "exceptionally strong period of trading".

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ATTRAQT Group PLC - online shopping technology provider based in London - Saw "significant" increase in usage volumes during virus lockdown. In year to date has secured GBP10.7 million worth of contract renewals, versus GBP3.9 million this time last year.

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Strix Group PLC - kettle safety controls maker - Said it had a "resilient" performance in the six months to June 30, helped by a "marked recovery" in June. Has "strong order book visibility" for July and August and on track to deliver 14 new products this year.

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XLMedia PLC - Jersey-based performance marketing company - Expects revenue of USD27.5 milllion and Ebitda of USD3.5 million in first half. Notes period was hurt by Google search deranking and Covid-19 pandemic.

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Learning Technologies Group PLC - digital learning services provider - Says "robust" first half was in line with internal expectations. Expects revenue to inch roughly 2% higher annually to GBP64.0 million. Has repaid all furlough money back to UK government.

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Igas Energy PLC - oil and gas producer onshore in Britain - Began water injection at Scampton North site on schedule and on budget, despite virus.

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Journeo PLC - information systems and transport technical services company - Received new orders worth GBP800,000 for transport infrastructure upgrades from West Midlands Combined Authority. Adds that overall interim trading has been better than the same period last year.

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dotDigital Group PLC - marketing automation - Organic revenue from continuing operations climbed 12% to GBP47.4 million in year ended June 30. Adjusted earnings before interest, tax, depreciation and amortisation expected to be "comfortably" ahead of market forecasts.

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SimplyBiz Group PLC - compliance and business services - Revenue in first half ended June 30 inches 0.7% lower annually to GBP28.9 million from GBP29.1 million. Expects full year adjusted earnings per share to be no less than 11.0p, down from 13.0p in the year prior.

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Personal Group Holdings PLC - employee services provider - Says Ebitda for six months to June 30 GBP5 million higher year-on-year, ahead of expectations. Revenue flat at GBP30 million. Intends to pay a full third quarter dividend of 5.9 pence per share after reduced second quarter payout.

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Kin & Carta PLC - business consultancy firm - Lenders agree to raise ceiling of quarterly leverage covenant to 5.0 times Ebitda, from 2.5 times, for four quarters starting from period ending July 31. Says net revenue for second half ended July 31 expected to fall 20% annually due to Covid-19 hit.

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Equals Group PLC - e-banking and international payments company - Revenue in six months to June 30 inched up to GBP13.7 million from GBP13.6 million. To cut staff numbers between 15% and 20% from the high point of 341 from December 2019.

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ICG-Longbow Senior Secured UK Property Debt Investments Ltd - London-based fund manager - Provides GBP16.9 million loan facility to a vehicle managed by GMG Real Estate to back its purchase of an office property in St James's leased to a UK Government agency

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Unicorn AIM VCT PLC - venture capital trust - Net asset value per share "recovered strongly" to 159.2 pence in three months to June 30, up 24% quarter-on-quarter. FTSE AIM All-Share Index by comparison delivered a total return of 30%, FTSE All-Share rose 10%.

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Helical PLC - London-based property investor - Rent collection for June quarter currently just over 77%, with just shy of a further 14% to be paid in instalments before September.

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Vp PLC - Harrogate-based equipment rental firm - Says demand picking up after low April when revenue slumped to 55% of normal levels. Two-thirds of staff now returned from furlough. Positive about long-term outlook and expects return to historic levels during 2021.

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Alumasc Group PLC - building products group - Expects 16% revenue decrease to GBP76 million in year ended June 30, "entirely as a result of the Covid-19 lockdown". Notes improved levels of trading in July with all sites and manufacturing locations operational again.

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NAHL Group PLC - Northamptonshire-based legal services - Revenue for six months to June 30 expected at GBP20.4 million, down 21% annually from GBP25.8 million. Underlying earnings expected between GBP1.0 million and GBP1.2 million, down from GBP3.4 million.

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McKay Securities PLC - office, industrial and logistics-focused real estate investment trust - Says June rent collection at 74% from agreed monthly and deferred payment plans and rises to 92% on receipt of income. March rent at 82%, rising to 97% on receipt of income.

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Property Franchise Group PLC - Bournemouth-based lettings and estate agency franchisor - First revenue expected to shrink to GBP5.2 million from GBP5.4 million. Notes June revenue was 5% higher annually as "demand returned". Confirms it will pay a 2.1p interim dividend.

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IronRidge Resources Ltd - Africa-focused minerals explorer - Reports "visible gold" found in reverse circulation drilling at Ehuasso target located in Zaranou project, Cote d'Ivoire.

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W Resources PLC - tungsten, tin and gold mining company with assets in Spain and Portugal - Reports second quarter tin metal production rose 65% quarter-on-quarter to 20.0 dry metric tonnes at La Parilla mine, Portugal. Tungsten output fell 17% to 2,756 metric tonne units.

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UK Oil & Gas PLC - oil and gas producer - Strikes deal with Aladdin Middle East Ltd to take 50% stake in Resan licence, Turkey. Will fund the first of five commitment wells in the licence's five-year exploration term and a seismic survey, for a total cost between USD1 million and USD1.5 million.

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Greatland Gold PLC - precious metals explorer - Notes Newcrest Mining Ltd which said it found a new zone of mineralisation at Havieron gold asset, Western Australian.

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Petra Diamonds Ltd - diamond producer - Says Covid-19 "significantly reduced activity" in year ended June 30. Cancelled its usual May and June 2020 tenders due to the significantly reduced demand but reported USD10.5 million in fourth quarter sales. Annual output down 7% to 3.6 million carats, revenue down 36% to USD295.8 million.

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Mosman Oil & Gas Ltd - oil exploration, development and production company - Output in six months to June 30 falls 32% to 37,226 barrels of equivalent from 54,987 boe in six months ended December.

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ValiRx PLC - London-based clinical stage biotechnology company - To re-locate to an office in Nuneaton, Midlands to save costs. Notes VAL201 on track to report headline results in the third quarter. Plans to raise GBP1.4 million from placing, subscription, conversion and a broker option, issuing 18.0 million shares in total. Will go towards advancing early stage clinical candidates.

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Animalcare Group PLC - animal health firm - Says first half trading was "resilient" despite Covid-19 disruption. Overall performance for six months to June 30 was below last year's levels but at the higher end of scenario modelling. Revenue expected to be down 4.4% annually to GBP34.5 million.

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Symphony Environmental Technologies PLC - developer of additives to make ordinary plastic biodegradable - Notes Eurofins Laboratories unveiled positive results from a trial for Symphony's d2p antimicrobial masterbatch technology on bovine coronavirus. It found just shy of a 100% reduction in virus. "Bovine coronavirus is a close beta coronavirus surrogate for Covid-19," Symphony said.

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OptiBiotix Health PLC - York-based life sciences company - Extends terms of manufacturing, supply and profit sharing agreement with Agropur MSI LLC. Extends product range to include WellBiome gut health product as well as SlimBiome weight loss product.

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Immunodiagnostic Systems Holdings PLC - Tyne & Wear-based diagnostic testing kits and instruments maker - Reports revenue of GBP5.7 million in first quarter ended June 30 down 39% on a like-for-like basis. Says financial 2020 revenue edged 2% higher. Says first sales of SARS-Cov2-IgG test made in July.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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CORRECTED-UPDATE 2-Petra Diamonds shares slump on debt-for-equity deal

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UPDATE 1-Petra Diamonds agrees restructuring terms with noteholders and South African lenders

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Petra recovers 5 blue diamonds; warns over possible equity dilution

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