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UK TRADING UPDATE SUMMARY: Pawnbroker H&T Declares Interest Holiday

Mon, 06th Apr 2020 14:47

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

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H&T Group PLC - pawnbroker - Closes all 253 stores and declares interest holiday on outstanding secured loans. Arranging to accept online repayments and to make cash advances via a portal. Withdraws recommendation to pay final dividend of 7.0p per share. CEO and Chair reduces salary remuneration to 50% while stores are closed.

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Atalaya Mining PLC - copper mining - Proyecto Riotinto mine operations recommence after Spanish government decree that the definition of essential industry is extended to mining, due to being a required supplier to other essential industries.

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InnovaDerma PLC - beauty & personal care products - To continue distribution of products to retail partners including Boots, Superdrug and Tesco as those businesses are essential services as defined by the UK government. Second half of year ending June 30 started well, but pandemic slows sales in brands through bricks-and-mortar channels. Assessing debt facility with Barclays PLC.

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ScS Group PLC - furniture retailing - Suspends payment of interim dividend due for payment on May 7. Outgoing CEO David Knight to remain until end of July 2021 at least.

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Symphony Environment Technologies PLC - anti-microbial plastic technologies - For quarter ended March 31, revenue up 56% year-on-year at GBP2.4 million. Conducting tests of d2p anti-microbial technology against members of coronavirus group, which could lead to tests on effect against the Covid-19 virus itself. Withdraws guidance for 2020 but will publish 2019 results on April 30.

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APQ Global Ltd - emerging markets-focused fund management - Suspends dividend payments and cuts management bonus scheme to 10% of profits from 20%, as book value suffers from difficult trading conditions and volatile markets.

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eEnergy Group PLC - energy efficiency - Wins 48 new contracts in UK and Ireland in second half of year ending June 30 to date. No signed projects cancelled, but some delayed to summer holidays. Expects to maintain average level of contract order intake throughout calendar year, but delays set to push operating profit breakeven point beyond current financial year.

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RBG Holdings PLC - professional law services - Closes London and Manchester offices but all salaries to remain paid in full. Trading performance for 2019 to be in-line with expectations, and results to be published on April 20. Postpones interim dividend payment until May.

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Diversified Gas & Oil PLC - US-based oil & gas - Will continue operations due to being deemed a provider of "essential services". Will maintain its dividend payouts.

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Pembridge Resources PLC - Canada-focused copper-gold-silver miner - Restructures Minto Explorations Ltd share ownership in order to remove future funding obligations of Pembridge of USD6.4 million to USD22.1 million. As a result, holding in Minto reduced to 11% from 33%.

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Novacyt SA - clinical diagnostics - Covid-19 test approved by Institut Pasteur in France, and Ministry of Health in Thailand.

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Chesterfield Resources PLC - Cyprus-based gold explorer - Unable to recommence its percussion drill programme on Troodos West licence area amid countrywide lockdown. However was still able to pay licence rental fees to Mine Services department.

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React Group PLC - cleaning & decontamination - Experiences high demand for decontamination and infection control services. Enters agreements with "Tier 1 customers" to provide first response services for multiple premises in UK. Expects to deliver small operating profit for six months ended March 31, the results of which will be published in June.

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Amedeo Air Four Plus Ltd - aircraft leasing - Continues discussions with Thai Airways concerning ongoing lease obligations. Suspends payment of all cash distributions to shareholders until further notice.

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CentralNic Group PLC - internet domain names - Trading in line with market expectations and has not experienced interruptions in its services to customers or in its supply chain. Expects business to remain resilient.

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SigmaRoc PLC - construction materials - For quarter ended March 31, underlying earnings before interest, tax, depreciation and amortisation more than double year-on-year to GBP5.3 million, and revenue up 87% to GBP26.5 million. Remains active across all sites in UK, while Belgium businesses remain operational. However, reduced activity and demand, means performance set to be weaker in second quarter of 2020.

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Be Heard Group PLC - digital marketing - Withdraws future guidance, and implements cost control measures, including reducing salaries for senior staff and eliminating discretionary spend. Expects to publish results for 2019 on or around May 15.

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City of London Group PLC - finance-sector investment - Takes measures to reflect reduction in business volumes, subsidiary Recognise progresses with application to the Prudential Regulation Authority for a banking licence. Board remains positive about company's prospects.

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Arrow Global Group PLC - loans manager and buyer - No longer recommending final dividend of 8.7p per share for 2019, and withdraws guidance for 2020. To announce first quarter results on May 14.

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Angling Direct PLC - fishing equipment retailer - All stores closed, but e-commerce sales remain strong despite pandemic. Secures GBP2.5 million credit facility from NatWest. Will furlough employees and reduce cash outflows. Expects reduction in revenue for financial year ending January 31. Results for 2020 financial year results could be delayed from original date of May 13.

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Ergomed PLC - pharmaceutical services - Providing support for a clinical development programme for namilumab, a monoclonal antibody therapy targeting granulocyte-macrophage colony stimulating factor, for the treatment of patients with rapidly worsening Covid-19. Programme being supported by UK biopharmaceutical firm Izana Bioscience.

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Schroder Real Estate Investment Trust Ltd - property investor - Will postpone dividend due to be paid in June, and delays publication of results for year ended March 31 to June.

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Immedia Group PLC - multimedia content - Several customers have cancelled or deferred project work indefinitely due to outbreak, which will hurt 2020 performance despite encouraging start. Delays publication of 2019 results.

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SThree PLC - recruitment - Unable to provide guidance on future earnings. Cuts salaries and fees of board and senior executive team by 20%, executive directors foregoing bonuses for year ending November 2020. Withdrawn final dividend payment of 10.2p per share.

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Arricano Real Estate PLC - property investment - South Gallery shopping centre in Simferpol, Ukraine to remain closed till April 30, except for pharmacies, hypermarket and some other stores.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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