(Alliance News) - The following is a round-up of updates by UK companies on the impact of the Covid-19 pandemic, issued on Tuesday and not separately reported by Alliance News:
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Softcat PLC - infrastructure services - cancels interim dividend of 5.4 pence per share in order to protect cash position.
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Castings PLC - iron castings and machining - Unable to predict impact on business for 2021 financial year. Experienced lower output levels in third quarter of year ended March 31. Expected increased demand in final quarter, but outbreak affecting truck sector significantly. Reduced production levels to meet lower demand.
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Mkango Resources Ltd - rare earth minerals - Remains focused on feasibility study for Songwe Hill rare earths project in Malawi, but now expects completion of study in second half of 2021.
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Leeds Group PLC - fabrics distribution - Activities in Germany severely affected by country wide lockdown. Expects to report substantial loss for year ending May 31.
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Ingenta PLC - software and services - Postpones publication of 2019 results, expects to report revenue of GBP10.9 million, and adjusted earnings before interest, taxes, depreciation and amortisation at GBP1.3 million. Revenue for 2018 was GBP12.0 million, while adjusted Ebitda was GBP769,000.
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Phoenix Global Resources PLC - Argentine-focused upstream oil & gas - Reducing its capital expenditure programs and exploring other cost saving methods. Plans to restructure the existing convertible credit facilities agreements with Mercuria Energy Netherlands.
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Horizonte Minerals PLC - nickel exploration - expects to publish 2019 results within 45-day extension period starting from March 31.
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Regional REIT Ltd - property investor - Confirms fourth quarter dividend payment of 2.55 pence per share. Rent collected for first quarter of 2020 lower year-on-year.
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Predator Oil & Gas Holdings PLC - oil & gas - Enhanced oil project in Trinidad remains on-track for revenue growth, with project economics still attractive despite low oil prices. Rig for drilling Guercif proposect in Morocco stored in yard, ready to be used when travel restrictions are lifted. Still plans to issue 2019 accounts by end of April.
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RPS Group PLC - professional services - Annual general meeting to still take place on April 30.
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AfriTin Mining Ltd - tin mining - Uis tin mining suspended due to 21-day Namibia lockdown, but will continue feeding the processing plant from the run-of-mine stockpile during this period.
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Trafalgar Property Group PLC - property development and hydroponics - Continues discussions for sale of three unit development in Ashtead Surrey, ceases move to acquire land at Staplehurst, UK. Will not raise funds to develop hydroponics strategy until it can be completed at suitable price.
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Science Group PLC - science-based consultancy - Trading in first quarter of 2020 in line with expectations, product development business Sagentia a part of UK government's Rapidly Manufactured Ventilator System. Manufacturing contract in negotiation stages. Underlying outlook unpredictable.
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Empyrean Energy PLC - oil & gas - Gaffey Cline & Associates to publish updated Competent Persons Report for Mako gas field in Indonesia despite travel restrictions. Seismic inversion work on block 29/11 offshore China not delayed by outbreak. Drilling of first well still scheduled between December 2020 and May 2021, but subject to revision.
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Aquila European Renewables Income Fund PLC - renewable energy investment - Affirms ability to meet planned 2020 dividend payout, no project development risk for existing investments due to current market conditions.
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Jersey Electricity PLC - Jersey-focused electricity supply - Defers planned 2.5% tariff rise which was to take effect from April 1, leading to estimated cost of GBP1 million for second half of financial year ending September 30. Expects to publish interim results in mid-May.
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PureCircle Ltd - stevia sweetners - Expects to delay publishing of results for six months to end of December. Publishes results for year ended June 30, 2019. Pretax loss widens to USD72.2 million from USD3.4 million, on revenue down by 2.1% to USD124.0 million.
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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