(Alliance News) - The following is a round-up of updates by London-listed companies on the impact of the Covid-19 pandemic, issued on Monday and not separately reported by Alliance News:
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Novacyt SA - clinical diagnostics - Wins deal to supply Covid-19 testing kits to the UK Department of Health. To initially provide tests for six months. Committed to supply 288,000 tests per week for NHS use.
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Byotrol PLC - infection prevention - Continues to see exceptional demand across all markets due to the Covid-19 pandemic. Predicts strong demand to continued to at least the first quarter of year ending March 31, 2021, and likely beyond. Strong order book exceeding GBP2 million and expects record product sales in the first quarter. Estimates revenue of GBP6.0 million for financial 2020 and adjusted earnings before interest, tax, depreciation and amortisation of GBP250,000. Cash of GBP1.7 million at March-end.
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Mind Gym PLC - behavioural science - Expects revenue for year ended March 31 to rise 15% to GBP48.2 million and adjusted pretax profit between GBP5.8 million and GBP7.3 million. Furloughs some employees and 20% salary cuts implemented among workforce and directors. Founding directors forego 100% of salary.
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Omega Diagnostics Group PLC - allergy testing - Says partner Mologic Ltd's Covid-19 antibody test receives regulatory CE-mark. Omega to now work towards manufacturing 46,000 Covid-19 tests per day.
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Venture Life Group PLC - self-care products - Inks 15-year pact worth EUR168 million with partner for distribution of Dentyl mouthwash products in greater China. Says demand was high before and after Covid-19 outbreak in China.
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EKF Diagnostics PLC - healthcare products - Says demand for PrimeStore MTM sample collection device boosted amid pandemic. First quarter trading exceeded expectations and on-track for full-year growth.
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Faron Pharmaceuticals Oy - biopharmaceuticals - Reports Traumakine respiratory drug to be included in World Health Organization's Solidarity trial for potential Covid-19 treatments.
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Hostelworld Group PLC - hostel operator - Reports Covid-19 outbreak has caused significant disruption in travel market. First quarter earnings before interest, tax, depreciation and amortisation down by about USD4.8 million year-on-year and second quarter booking volumes minimal.
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Camellia PLC - agriculture - Says all operations bar India running close to full capacity. Some tea auctions have been cancelled in recent weeks and tea prices poor in first quarter due to overproduction in 2019, but sees some signs of increased demand amid virus crisis. Engineering business running close to full capacity but says all of UK Food Service have been forced to furlough some staff.
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Union Jack Oil PLC and Reabold Resources PLC - hydrocarbon producer and oil & gas investor - Both note operator of West Newton A-2 well receives positive decision from UK regulators. Testing operations at West Newton to commence after Covid-19 movement curbs subside. Reabold has 39% stake in West Newton, Union Jack has 17% interest.
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Serinus Energy PLC - gas producer - Executive directors take 20% pay cut due to virus crisis and commodity price crash. Will receive company shares to top up salary. Non-executive to take 25% cut in fees.
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Petroneft Resources PLC - oil & gas producer - Reports successful re-entry of C-3 well in Cheremshanskoye field, Russia. Well re-entry programmes suspended due to pandemic.
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Anglo Pacific Group PLC - natural resources - Says Covid-19 has had minimal impact on royalties in first quarter. Says total portfolio contribution in first quarter down 1.6% quarter-on-quarter to GBP12.6 million.
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ADM Energy PLC - oil & gas investor - Says social distancing measures adopted in offices. Putting in place measures for immediate 35% cut in general and administrative expenses. Unclear on how Covid-19 and commodity price falls will affect investment level.
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Aminex PLC - oil & gas producer - Names Non-Executive Robert Ambrose as interim chief executive officer. Says focus on fixed-price sales contracts protected it from oil price falls but adds delays in Tanzania operations likely due to movement restrictions. Granted extension on Ruvuma licence, Tanzania. Investor Solo Oil PLC, with 25% stake in Ruvuma, noted licence extension.
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Chaarat Gold Holdings Ltd - gold miner - Closes placing, raising USD13.8 million. Says placing conducted to strengthen finances amid challenging market.
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Yu Group PLC - utilities supplier to businesses - Launches Assist and Agile energy plans for businesses hurt by Covid-19. Both plans allow for reduced energy prices.
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Staffline Group PLC - recruiter - Names Ian Lawson as executive chair effective immediately, replacing Chris Pullen. Says demand in food sector surged, but slumped in manufacturing, retail and automotive. Has furloughed some staff where possible.
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SimplyBiz Group PLC - compliance and business services - Implements cost savings like freezing spend, halting pay rises and cutting director salaries. Confirms final dividend for 2019 but rules out interim 2020 dividend. Withdraws full-year guidance. Non-Executive Director Gary Hughes to become deputy chair with immediate effect.
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Trakm8 Holdings PLC - data insight - Says revenue for year to March 31 in line with guidance, 2% higher at GBP19.6 million. Says Covid-19 delayed hardware shipments, and meant that negotiations with UK-based food retailer were not completed.
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System1 Group PLC - online market research - Expects fourth quarter sales revenue to fall by a quarter and by 2% in year to end of March. Has furloughed some staff and adds that board and other senior executives have agreed to defer 20% of salaries.
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Quartix Holdings PLC - vehicle tracking software - Says initial impact on earnings from pandemic was limited. Unable to provide annual guidance due to uncertainty. Trading in first quarter ended March in line with expectations.
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7digital Group PLC - digital music streaming - Implements cost cuts, saving GBP750,000 per month. Says Covid-19 has meant some first half contract wins pushed to second half.
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Accesso Technology Group PLC - software solutions - Says cost cuts mean monthly expenses reduced by USD2.6 million. Furloughs 50% of staff and cuts 29 additional full-time positions. Says pandemic has hit key markets, including North America, but backs rebound.
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Holders Technology PLC - products for printed circuit boards - Cuts planned final dividend by two-thirds to 0.25 pence per share from 0.75p per share to save costs amid pandemic.
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Windar Photonics PLC - wind sensors developer - Receives order for 30 WindVision systems in China. Says all employees agree to 20% monthly salary cut due to Covid-19.
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Filtronic PLC - antenna manufacturer - Says supply chain a concern but does not predict critical shortages of materials. Search for new CEO delayed due to virus. Does not expect a new CEO to join before its first quarter beginning June.
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Alumasc Group PLC - building products - Water Management to reopen sites in Burton Latimer, Northamptonshire, and Halstead, Essex, from Monday. Says some furloughed staff in Roofing and Levolux units to be brought back if demand allows.
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Springfield Properties PLC - housebuilder - Agrees an additional GBP18 million one-year loan with Royal Bank of Scotland, increasing total credit facility to GBP85 million. Says 90% of workforce furloughed and executive and non-executive directors agree to 50% reduction in salary.
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Macau Property Opportunities Fund Ltd - property investor - Says no new Covid-19 infections in Macau since April 9. Completes USD2.4 million disposal of a unit at One Central Residences skyscraper in Macau.
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SQN Secured Income Fund PLC - investment trust - To hold general meeting on continuation vote in June, unable to hold meeting in first quarter of 2020 due to Covid-19.
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Verditek PLC - green technology investor - Says Lainate in Italy commenced production on April 6, after employees self-isolated in line with government guidance. Signs deal to develop solar panel manufacturing site in Portugal.
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PCF Group PLC - specialist bank - Says virus had limited impact on first half, though future hurt expected. Says Covid-19 outbreak has reduced lending levels.
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By Eric Cunha; ericcunha@alliancenews.com
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