(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:
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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.
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Walker Greenbank PLC - furnishings - Phased restart to manufacturing in UK factories which were previously closed due to Covid-19 lockdowns. Furloughed staff also returning.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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".
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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.
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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.
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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.
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By Eric Cunha; ericcunha@alliancenews.com
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