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Pin to quick picksPressure Tech Share News (PRES)

Share Price Information for Pressure Tech (PRES)

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Share Price: 37.50
Bid: 36.00
Ask: 39.00
Change: 0.00 (0.00%)
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UK TRADING UPDATE SUMMARY: Naked Wines, Distil Get Bar-Closure Boost

Thu, 09th Apr 2020 14:54

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

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Naked Wines PLC - wine retailer - Sales boosted since social restriction measures introduced, particularly in US. Expects revenue in year ended March to be in excess of GBP200 million, ahead of market consensus of GBP198.9 million.

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Distil PLC - premium rum, gin and vodka brands - Volumes up 80% and revenue up 97% in January to March, Distil's financial fourth quarter. Expects full-year performance to be in line with market expectations. Seeing sales boost from consumers stocking up on alcohol during Covid-19 lockdowns but too early to forecast market trends over next six months.

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Volvere PLC - Shire Foods frozen pastry - Expects to report revenue from continuing operations of GBP23 million for 2019, up from GBP18.3 million in 2018, and breakeven from the same at the pretax level, unchanged from the underlying result in 2018. As a food maker, Shire has "an important part to play during the current Covid-19 pandemic". Uplift in sales to retail customers in first quarter of 2020, but downturn in orders from foodservice customers, so "too early to say whether this will be sustained and ultimately translate into higher sales for the group for the year overall".

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Warpaint London PLC - cosmetics - Reports "substantial reduction" in sales due to lockdown measures forcing retail outlets to close, but operating online. Furloughs 84 out of 115 UK staff, about 73% and suspends marketing spend. Won't recommend final dividend for 2019.

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DP Aircraft I Ltd - aircraft leasing - Says Thai Airways has asked for temporary relief on its lease payment obligations. Has begun discussions about this. Says Thai remains fully committed to its obligations and has made all payments due to date. DP Aircraft I will speak to its lending banks about the situation as well.

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Cora Gold Ltd - miner - Suspended drill programme at Foulbe permit, Senegal, following government advice. Says field work continues in Sanankoro project, Mali.

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Resolute Mining Ltd - gold miner - Donates USD1 million to African governments to support Covid-19 response.

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Anglo Pacific Group PLC - natural resources - Says travel curbs mean annual general meeting pushed back to May 27. Final dividend of 4.125 pence to be paid later as a result.

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Eurasia Mining PLC - gold producer - Aiming to keep cash position at GBP600,000 to ensure it does not to use credit line, even if Covid-19 disrupts trading. Shares remain suspended pending clarification of relationship with CITIC Group Corp Ltd.

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Dukemount Capital PLC - property firm - Says West Derby project still on track for August completion, despite Covid-19.

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Warehouse REIT PLC - real estate investment trust - Says 74% of rent for June quarter received, rises to 82% when including tenants paying monthly. Committed to meeting 6.2p per share target dividend.

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Hibernia REIT PLC - real estate investment trust - Work on development sites in Ireland suspended in line with government guidance. Says too early to have full visibility on virus impact. Secures three new lettings in quarter to March 31, boosting annual rent by EUR3.3 million.

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Town Centre Securities PLC - property investor - Receives 71% of rent due for April, agrees to defer payments for a further 15%. Furloughes staff across car park, hotel and property businesses and board taking a 20% salary reduction. Suspends all financial guidance and making decision about 3.25p interim payout.

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Livermore Investments Group Ltd - investor - Says virus spread and US government response changing demand patterns. Expects reduced earnings from borrowers in its collateralized loan obligation portfolio.

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Alpha Financial Markets Consulting PLC - lending services provider - Expects results for year ended March 31 to be in line with market expectations. Says Covid-19 has had almost no effect on trading so far but expects impact on new business later. Chief executive, chief financial officer and non-executives have taken a 40% pay cut.

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Eckoh PLC - payment technology - Says sales pipeline strong but Covid-19 has caused delays. Halts new hiring, postpones salary increases and will not propose final dividend unless market conditions improve. Expects double-digit revenue growth from US and UK divisions in year ended March 31.

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IMImobile PLC - cloud communications - Forecasts 17% revenue jump in year ended March 3. Says little Covid-19 impact so far but cutting costs and freezing hiring as a precaution. Some UK employees furloughed and board members take 33% pay cut. Raises GBP22.2 million in placing of 7.4 million shares at 300p each.

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Location Sciences Group PLC - location data provider - Says customers in retail and leisure sectors most affected by UK lockdown measures. Predicts second quarter revenue to be lower than expected. Cuts marketing spend and notes a long-standing shareholder died from the virus.

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ProPhotonix Ltd - LED lighting systems - Says no virus impact on first three months of 2020 but future hit "inevitable". Some customers in March ceased operations. Non-essential operating costs have been cut, and CEO takes 50% salary reduction.

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Van Elle Holdings PLC - engineering - Proposes equity raise of GBP6.7 million to ensure "sufficient headroom" to mitigate Covid-19 impact. Company placing 26.7 million shares at 25p each.

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Pressure Technologies PLC - engineering - Says both Chesterfield Special Cylinders and Precision Machined Components experience disruption due to virus, though all sites remain open. Withdraws full-year guidance

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Avingtrans PLC - engineering - Cancels interim dividend, to cut business costs, defer non-critical capital expendituren and use government stimulus measures in UK and US. Says 20% of UK employees furloughed. Board members take 20% salary reduction.

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TClarke PLC - building services - Postpones annual general meeting due to travel restrictions. To issue revised date soon. Final dividend postponed as it needs shareholder approval

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Speedy Hire PLC - tools and equipment hiring - Says Covid-19 reduces activity levels and lessens demand. Furloughs roughly 50% of employees and halts hiring. Leadership team and board take 20% pay cut and considering whether to pay final dividend.

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Rotala PLC - bus operator - Says no final dividend to be proposed but mulling special interim dividend. To furlough staff under UK Coronavirus job retention scheme. Withdraws full-year guidance.

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Gama Aviation PLC - aviation services - Says all divisions operational but some activity reduced. Using paycheck protection programme in US and furloughing "small number" of staff in UK. Suspends guidance for 2020. To publish 2019 annual report by end of July due to Covid-19 disruption. Will apply to AIM for extension beyond June 30 deadline.

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Silence Therapeutics PLC - RNA therapies - Will repurpose Berlin site to produce parts for Covid-19 diagnostics tests. Performing the work on a cost-only basis for Berlin-based TIB Molbiol GmbH.

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Advanced Oncotherapy PLC - cancer treatment - Says Covid-19 lockdowns in UK means timetabled LIGHT cancer treatments delayed. First patient to be treated in 2021 and not 2020 as first planned. Plans to raise GBP14.9 million from issue of 59.6 million shares at 25p each.

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MaxCyte Inc - cell-based therapies - "Unprecedented" movement curbs amid Covid-19 could hurt revenue. Fourth set of patients dosed in CARMA trial of MCY-M11 cell-based therapy for ovarian cancer.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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26 Mar 2019 14:22

Gresham House Asset Builds 7% Stake In Pressure Technologies (ALLISS)

LONDON (Alliance News) - Pressure Technologies PLC on Tuesday said that Gresham House Asset Management Ltd now owns a 6.99% stake in the company.Gresham House's holding in the valve to

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8 Feb 2019 13:00

Pressure Technologies says HSE will prosecute subsidiary over fatality

(Sharecast News) - Pressure Technologies said on Friday that the Health & Safety Executive plans to prosecute its subsidiary, Chesterfield Special Cylinders (CSC), in relation to a fatal accident that took place there in June 2015.

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UK Shareholder Meetings Calendar - Next 7 Days

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1 Feb 2019 10:07

Pressure Technologies Pushing Ahead With Greenlane Biogas Sale

LONDON (Alliance News) - Specialist engineer Pressure Technologies PLC said it is making good progress on the sale of subsidiary PT Biogas Holdings Ltd.Pressure Technologies announced the a

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11 Dec 2018 11:46

Pressure Technologies' loss widens as alternative energy revenue stumbles

(Sharecast News) - Pressure Technologies reported on Tuesday that its full-year loss widened due to the impact of a weak performance in its Renewable Energy division.

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11 Dec 2018 09:56

Pressure Technologies Annual Loss Widens On Lower Number Of Projects

LONDON (Alliance News) - Pressure Technologies PLC on Tuesday said its loss widened in its recently ended financial year, hurt by weakness in its Renewable Energy division.The engineering a

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10 Dec 2018 12:24

Pressure Technologies to offload alternative energy division for £11.1m

(Sharecast News) - Pressure Technologies' shares jumped on Monday after it agreed to sell its alternative energy division to Creation Capital Corp for a total consideration of £11.1m.

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10 Dec 2018 09:24

Pressure Technologies Sells PT Biogas To Canada Firm For GBP11 Million

LONDON (Alliance News) - Pressure Technologies PLC on Monday said it agreed to sell its subsidiary, PT Biogas Holdings Ltd, to Canada-listed Creation Capital Corp for GBP11.1 Tech shares were up A

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31 Jul 2018 13:05

Pressure Technologies Hires Chris Walters To Be CEO From October

LONDON (Alliance News) - Pressure Technologies PLC said on Tuesday that Chief Executive Officer John Hayward will step down on October 1 and be replaced by Chris Walters.The incoming CEO on

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12 Jun 2018 12:18

Pressure Tech Interim Loss Widens As Revenue Falls On Lower Order Book

LONDON (Alliance News) - Pressure Technologies PLC on Tuesday reported a decline in revenue in the first half of its financial year, hit by decline in orders in the Alternative Energy industrial a

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30 May 2018 10:55

Pressure Technologies Shares Drop As Year Set To Be Below Expectations

LONDON (Alliance News) - Shares dropped in Pressure Technologies PLC on Wednesday as the company said its loss-making Alternative Energy division, will bring the group's results for its year a

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13 Dec 2016 09:03

Pressure Technologies Scraps Dividend After Swing To Annual Loss

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12 Dec 2016 16:06

UK Earnings, Trading Statements Calendar - Next 7 Days

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8 Dec 2016 10:05

Pressure Technologies Buys UK Engineer Martract For GBP4.3 Million

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8 Dec 2016 08:43

Pressure Technologies buys Martract for £4.3m

(ShareCast News) - Engineering firm Pressure Technologies has bought rival Martract for £4.3m in order to strengthen its ability to supply bespoke solutions to clients and improve its supply chain. The company said that the acquisition, which is expected to me immediately earnings enhancing, is a "s

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