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UK TRADING UPDATE SUMMARY: Focusrite Revenue Grows On Strong Demand

Thu, 17th Dec 2020 15:52

(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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Focusrite PLC - music and audio products company based in High Wycombe, Buckinghamshire - Says revenue in first quarter of financial 2021 ending August 31 was "substantially greater" than the same period last year as demand for its products has continued to be strong. Notes however that global factors such as Covid-19, Brexit, and US tariffs may hurt its operations.

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Netcall PLC - Hemel Hempstead-based customer engagement software firm - Notes continues strong momentum in first half of financial 2021 ending December 31, adding order levels are significantly higher year-on-year driven by demand for low code and customer engagement solutions across market segments of healthcare, government and financial services. Cloud annual contract value is currently 30% higher than same period last year. Looking ahead, says: "Whilst the board remains mindful of the current economic disruptions on our customers, it is confident that the strength of the group's product offering combined with its strong balance sheet and high levels of recurring revenue have positioned Netcall well for continued success."

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John Lewis Of Hungerford PLC - manufacturer and retailer of furniture - Says total of all despatched sales and forward orders for 24 weeks to December 16 is GBP5.9 million, up 25% year-on-year. States that due to the pandemic, it will not be able to publish its results for financial 2020 ended June 30 by December 31, adding it has been granted a three-month extension to March 31.

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Safestyle UK PLC - Bradford-based retailer and manufacturer of PVCu replacement windows - Says in response to the strong order intake, it increased its operational capacity, resulting in a 9% year-on-year revenue growth in the third quarter of 2020. Adds it expects fourth quarter revenue growth of around 20%. Expects full-year revenue of over GBP113 million and underlying pretax loss of around GBP4.5 million, with the loss blamed on the cessation of operations during the first lockdown. For 2019, the company posted revenue of GBP126.2 million and underlying pretax loss of GBP1.5 million.

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Wameja Ltd - Australian software company - Secures extension of EUR25 million Mastercard Inc facility until March 31, 2021. In August, the company said Mastercard increased the original EUR15 million loan facility provided to HomeSend by EUR10 million, stating the increased loan will help HomeSend fund pre-payment timing gaps. Global payment hub HomeSend is the company's joint venture with Mastercard.

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Keywords Studios PLC - London-based technical services provider to the global video games industry - Acquires Indigo Pearl Ltd and Jinglebell Communications Srl. Indigo Pearl is a full service PR agency specialising in the video game sector and for 2020 is expected to generate revenue of GBP1.8 million and adjusted Ebitda of GBP280,000. Jinglebell is a recording studio that provides audio recording, music production and sound design for video games and advertisements. It is expected to post revenue of EUR2.1 million and Ebitda of GBP100,000 for 2020. For the Indigo Pearl purchase, Keywords will pay GBP1.1 million in cash and the equivalent of GBP500,000 in shares on the first anniversary of completion. It will pay EUR1.5 million and EUR300,000 worth of shares at the first anniversary of completion for the acquisition of Jinglebell.

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Physiomics PLC - oncology consultant based in Oxford - Says existing client Merck KGaA commits to an initial tranche of projects for 2021 worth around GBP270,000. Projects will be completed during the first six to eight months of 2021 and will span a range of drug targets and treatment types in both pre-clinical and clinical settings. Also states it has entered partnership with Tabula Rasa HealthCare so its own cancer drug docetaxel will be integrated into Tabula Rasa's precision dosing solution DoseMeRx. DoseMeRx allows healthcare providers to optimise dosing and streamline operations, reduce adverse drug events, and decrease costs.

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Harworth Group PLC - Rotherham-based land and property regeneration firm - Sells second phase of its 250-acre South East Coalville development in Leicestershire to FTSE 250-listed Bellway Homes PLC for GBP8.9 million. Notes Bellway has acquired 12.5 acres through the transaction and intends to deliver 166 new family homes at the development.

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Hunting PLC - London-headquartered energy services provider - Says revenue for final quarter of year slightly lower than third quarter and second quarter due to lower international activity, primarily in its North Sea market, while other offshore projects have been delayed due to Covid-19 related issues. For its financial year ended November 30, Ebitda was around USD26 million, a sharp plunge from USD139.7 million the year prior.

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Provexis PLC - food technology company based in Reading - Raises GBP1.0 million through the placing of 133.3 million shares at 0.75 pence each. Placing price represents a 6.3% discount to the Wednesday closing price of 0.80p. Following admission, Provexis' share capital will comprise 2.2 billion shares. Funds will be used to support international revenue growth plans for heart-health food ingredient Fruitflow+ Omega-3.

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Panther Metals PLC - Hertfordshire-based mineral exploration company that operates in Canada and Australia - Completes acquisition of Merolia gold project in Eastern Goldfields of Western Australia from White Cliff Minerals Ltd. Consideration for purchase is AUD112,500 to be met from the company's existing cash resources and the issue of 734,470 Panther Metals shares at 12.65p each. Additionally, White Cliff will receive AUD1.25 for each ounce of gold derived from the Merolia gold project area.

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DeepMatter Group PLC - Bristol-based company focusing on digitising chemistry - Signs three-year contract with Thieme Chemistry for the supply of technical data services and access to its own proprietary algorithms. Thieme Chemistry is part of the Thieme Group, an international medical and science publisher.

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Bidstack Group PLC - London-based advertising technology company - Says revenue for 2020 is on track to exceed expectations due to "significantly increased" demand from advertisers in the second half of the year. Revenue for 2019 was GBP140,000.

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Surgical Innovations Group PLC - Leeds-based manufacturer of medical products for minimally invasive surgery - Signs US distribution agreement with existing US distributor Adler Instrument Company Inc for full range of handheld surgical instruments. The five-year contract, commencing February 1, 2021 is worth around USD12 million.

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By Ife Taiwo; ifetaiwo@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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