Latest Share Chat

WGB.L Share News (WGB)

WGB.L Information

There is currently no data for WGB

UK TRADING UPDATE SUMMARY: Caffyns To Reopen Showrooms As Curbs Ease

Wed, 27th May 2020 13:10

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

----------

Caffyns PLC - motor dealer - Has restarted aftersales operations and showrooms will reopen on June 1 after UK government eased lockdown measures. Made cost savings, furloughed 80% of employees in April and implemented annual salary ceiling of GBP37,5000 for all employees, including chair and executive directors.

----------

Walker Greenbank PLC - furnishings - Phased restart to manufacturing in UK factories which were previously closed due to Covid-19 lockdowns. Furloughed staff also returning.

----------

Avation PLC - aircraft leasing - Says formal sales process terminated as not likely to deliver result which reflects company's "long-term value". Adds Covid-19 has continued to disrupt business activities.

----------

Cambridge Cognition Holdings PLC - neuroscience technology - Won several new contracts with pharmaceutical clients to deliver virtual clinical trials. Notes that movement curbs as a result of Covid-19 has hurt patient recruitment for trials forcing some to turn to remote trialling. Cambridge Cognition says contracts worth GBP1 million.

----------

Nuformix PLC - pharmaceutical development - Says GBP1.3 million equity fundraise from last year and low operating costs make it "well-placed" to cope with Covid-19 hurt. Notes it may miss out of a GBP2.5 million payment from Chinese partner Newsummit Biopharma, which has fallen out with its own parent company. Teams with New York-listed VistaGen Therapeutics to develop crystalline versions of the latter's central nervous system medication candidates.

----------

Vectura Group PLC - inhaler maker - Backs expectations and financial guidance after making "positive start to trading in 2020". To execute second GBP10 million trance of GBP20 million buyback. Hails "strong balance sheet", with undrawn GBP50 million revolving credit facility leaving "resilient" in the face of Covid-19 risks.

----------

FireAngel Safety Technology Group PLC - fire safety products - Reports revenue for April was "some way" ahead of revised expectations and revenue May on track for the same. Expects "quick rebound" in demand as construction sector ups tools again following lockdown. Continues cost-cutting, including furloughing employees and extended executive director pay reduction for a further two months.

----------

Christie Group PLC - financial and stock & inventory services - Accepts UK Coronavirus business interruption loan scheme financing of GBP6 million. Says Executive Director Chris Day delays retirement and will now step down no later than September 30.

----------

Vitec Group PLC - photography and video products - Says customer demand still impacted by pandemic but recovering in China after initial hit. Says revenue for the first quarter was down 20% year-on-year with revenue in April alone down 60% annually but notes signs of improvement in May.

----------

ECSC Group PLC - cyber security services - Launches Nebula cyber security breach detection service. ECSC says Covid-19 has caused a reduction in consulting bookings, with some clients also delaying projects. Says no reduction in managed services recurring revenue.

----------

Centaur Media PLC - events and marketing - Reports "strong demand" in its online learning courses but notes sharp fall in revenue in telesales business. Still planning to run The Festival of Marketing, The Lawyer Awards and The Lawyer General Counsel Summit events in the second half of the year but notes these could be affected by social distancing requirements.

----------

Blencowe Resources PLC - mining - Mobilising drill teams to northern Uganda site as travel restrictions ease. Reviewed geophysical survey at the Orom-Cross graphite project and has a identified new "high-grade zone".

----------

Ironveld PLC - vanadium developer - Says USD3.2 million financing from Inclusive Investment Group delayed by lockdown restrictions in South Africa. IIG's subscription option for 440.2 million shares for 0.42 pence each expires on June 17 but Ironveld says it is in talks to extend deadline.

----------

Genel Energy PLC - oil producer - Says gross production at the Tawke licence in the Kurdistan region of Iraq is expected to average 100,000 barrels of oil per day in 2020. Says second quarter output down 13% quarter-on-quarter to 100,000 bopd from 115,210 bopd.

----------

Merian Chrysalis Investment Co Ltd - investment company - Net asset value per share at March 31 down 4.1% to 108.65p from 113.3p reported at the end of September. Says digitally-enabled companies have seen less of a trading hit due to Covid-19, and Merian notes fall in equity markets in period to March but "strong rebound" since.

----------

By Eric Cunha; ericcunha@alliancenews.com

More News

17 Apr 2012 07:12

Walker Greenbank on a roll as international demand grows

Luxury interior furnishings group Walker Greenbank unveiled a solid set of full year results, helped by a strong international performance, and is confident for the year ahead. Sales in the first eleven weeks of the current year rose 7% from the same period last year as demand for its expanding ran

19 Mar 2012 09:39

Walker Greenbank lining its pockets with Barbour linings

Ever wanted to match your handbag to the sofa? Well, a deal between the luxury furniture maker Walker Greenbank and Barbour may be of interest. Barbour has ordered two arts and crafts fabric designs from Walker, called "Strawberry Thief" and "Marigold". The fabrics will be used as lining for Barb

5 Oct 2011 06:57

Wednesday tips round-up: Carillion, Hamworthy, Heritage Oil...

Carillion, which bought Eaga, the home insulation and green energy business, in the spring, has now raised its estimate for annualised cost savings from £9 million to £15 million, notes the Tempus column in the Times. Carillion, like its rival support services group Kier, is now seeing the promised,

4 Oct 2011 08:25

UPDATE: Tuesday broker round-up

BHP Billiton: Citi reiterates buy and keeps target at 2,405p. BHP Billiton: Credit Suisse upgrades to outperform from neutral; cuts target to 2,800p from 3,160p. Anglo American: Credit Suisse downgrades to neutral from overperform. Lonmin: Credit Suisse downgrades to underweight from neutral. S

3 Aug 2011 07:14

Walker Greenbank still set for robust year

Interior furnishings firm Walker Greenbank said it has performed particularly well during the last six months and is trading ahead of company forecasts. The Buckinghamshire-based group, which makes branded paints, bed linen, furniture and carpets, said turnover increased 11% in the six months ended

1 Feb 2011 16:51

London close: FTSE 100 soars as Egypt worries ease

Well-received company updates, strong economic figures here and elsewhere and an easing of worries related to the situation in Egypt helped UK shares to strong gains. Miners led the advance, after strong growth in manufacturing in commodity hungry China in January. The UK, eurozone and US also had

1 Feb 2011 14:15

London afternoon: Miners and techs in demand

Shares added to the morning's gains over the lunchtime session, buoyed by the prospect of a firm start on Wall Street. Miners lead the advance, after strong growth in Chinese manufacturing in January, though technology stocks are also in demand. Mining giant Xstrata produced more coking coal, sem

1 Feb 2011 08:26

Walker Greenbank poised for bumper FY

Luxury interior furnishings group Walker Greenbank said adjusted pre-tax profits for the full year are expected to be no less than £4.9m, comfortably ahead of the top range of analyst forecasts. The group, whose brands include Sanderson, Morris & Co., Harlequin and Zoffany, said it had seen strong

29 Nov 2010 16:45

London close: Shares slump as eurozone saga continues

The leading share index closed with triple-digit losses Monday as jitters over the eurozone debt situation continued to plague the markets. Financial markets are still betting either Portugal, Spain, or both, will need a rescue deal similar to the €85bn Irish bail-out, rubber-stamped over the weeke

29 Nov 2010 14:18

London afternoon: Euro-zone fears resurface

Thoughts that the euro-zone boil had been lanced by the agreement of a bail-out package for Ireland have proved premature, with rising Spanish bond yields suggesting that the prospect of Spain being the recipient of an EU/IMF aid package cannot be ruled out. An underwhelming response to the latest

29 Nov 2010 12:30

London midday: Footsie deep in the red after reversal

The leading share index is now firmly in the red after giving up the strong gains it was posting this morning. Markets remain jittery over the eurozone debt crisis. The euro hit new lows against a basket of currencies this morning, despite claims by European politicians that the €85bn Irish bail-o

29 Nov 2010 08:54

London open: Banks lead market higher

UK shares have made a bright start to the week led by the banks after Ireland signed up to the EU/IMF bail-out at the weekend. Royal Bank of Scotland is the best performer. It has the largest exposure of the UK banks to Ireland. Lloyds, Barclays and HSBC are all going well. Bank of Ireland, meanwh

29 Nov 2010 07:19

Walker Greenbank set for forecast busting FY

Luxury interior furnishings group Walker Greenbank said full year pre-tax profits are expected to be materially ahead of market forecasts after a robust autumn period. The group, whose brands include Sanderson, Morris & Co., Harlequin and Zoffany, said, "During the past few weeks, the company's bra

26 Oct 2010 12:43

Sector movers: ARM slump dents tech index

Big losses at ARM Holdings savaged Technology Hardware & Equipment on Tuesday. ARM shares slumped 7% despite a big increase in both sales and income as brokers think the share price has got ahead of itself and is due a correction. KBC Peel Hunt told its clients take profits and Panmure Gordon keep

14 Oct 2010 06:29

Thursday tips round-up: Fresnillo, Antofagasta, Bodycote

Fresnillo, the Mexican company that is the world's biggest producer of silver, expects to top earlier forecasts of gold and silver production this year after a strong third quarter in which production of both metals was running at record levels. A note from Liberum yesterday points out that Fresnil

Latest Share Chat

WGB.L Share News (WGB)

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UK TRADING UPDATE SUMMARY: Caffyns To Reopen Showrooms As Curbs Ease

Login to your account

Quickpicks are a member only feature

Login to your account