UK TRADING UPDATE SUMMARY: Medica Expects Interim Revenue Drop

Wed, 08th Jul 2020 15:19

(Alliance News) - The following is a round-up of updates by London-listed companies not separately reported by Alliance News:

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Medica Group PLC - Hastings-based teleradiology firm - Expects revenue for first half of 2020 to be GBP17.0 million, down from GBP22 million the year before, due to impact of Covid-19 on radiology reporting activity. Reported return to profitability in June, company has not required any government funding to support its business and has not furloughed any stuff. NightHawk services reporting activity returns to 95% of normal levels,

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Craneware PLC - Edinburgh-based healthcare-focused software firm - Expects revenue for the year ended June 30 to remain flat year-on-year at USD71.4 million, with adjusted earnings before interest, taxes, depreciation and amortisation at USD24.5 million, up from USD24.0 million. Enters new financial year with annuity revenue base of USD65 million, and is cautiously optimistic on seeing first signs of sales cycles slowly normalising.

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Diaceutics PLC - Belfast-based diagnostic commercialisation firm - Sales for first half of 2020 up 20% to GBP5.3 million from GBP4.4 million the year before. Reports sustained demand from blue-chip client base, with steady repeat business. Current and pipeline projects uninterrupted by Covid-19 pandemic.

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Distil PLC - premium drinks brands owner - First quarter ended June revenue up 21% year-on-year due to increase in domestic retail sales, but volumes flat on loss of licensed sales of Blavod Black Vodka in Duty Free and Travel Retail. Expects first-half revenue to increase by between 75% to 85%, while operating profit is expected to be between GBP50,000 to GBP70,000.

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Springfield Properties PLC - Scotland-focused housebuilder - Expects revenue for year to the end of May to be GBP144 million, down from GBP190.8 million the prior year, as well as pretax profit of GBP9 million down from GBP16 million. Recommenced operations on site from June 15, and reported record reservation numbers in first week since reopening. For first-quarter of new financial year, sales set to be significantly higher year-on-year.

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Mpac Group PLC - packaging and automation solutions - Expects customer visits and levels of qualified opportunities to increase in second half of 2020 as global travel restrictions ease. Order book as at June 30 at GBP45.4 million, up from GBP39.9 million, with no orders cancelled due to Covid-19.

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Eurocell PLC - window, door and roofline PVC products - Sales for six months of 2020 at GBP91 million, down 31% year-on-year, however recovery evident as sales for month of June were GBP25 million, up 6% year-on-year. Extrusion operations back to normal levels by end of June, and expects production at Eurocell Recycle North to recommence at the end of July, due to increased demand for recycled material.

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Regional REIT Ltd - UK regional real estate investment trust - First quarter rents collection increases to 96.7% from 93.9%, while 78.5% of rent for second-quarter collected. Expects to announce dividend for second quarter of financial year on August 26.

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Ediston Property Investment Co PLC - property investor - For second quarter to the end of June, 75% of rent collected, while for third quarter 74% of rent collected across portfolio.

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Dekel Agri-Vision PLC - West Africa-focused agriculture firm - First shipment of milling equipment for cashew processing project at Tiebissou in Ivory Coast has left Italy, and is expected to arrive in four weeks time. Shipment comprises electrical, dryer, steam roasting and workshop equipment.

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Solo Oil PLC - Tanzania-focused oil & gas firm - Enters conditional asset purchase agreement with Reef Resources Ltd and Levant Exploration & Production Corp for the sale of asset held by Reef and Solo to Levant, subject to due diligence by Levant. In return, Levant will issue equivalent of 1% gross overriding royalty to Solo on any future production revenues.

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Shefa Gems Ltd - Israel-based gemstone miner - Commissioner of Mines at Ministry of Energy renews exploration permit 869B11 for a further year. Renewed 869B13 includes four volcanic bodies on Mount Carmel, Rakefet Magmatic Complex, Muhraka, Har Alon & Beit Oren, Zevulun & west Yizre'el valleys.

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Iconic Labs PLC - new media business - Signs management services contract with Greencastle MM LLP, which in turn bought the JOE media UK business, including the House of Rugby show. Under the contract's terms, Iconic Labs will be paid a monthly management business of GBP50,000, as well as 25% of profit when revenue and profit targets are met.

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Renalytix AI PLC - in-vitro diagnostics company - enters partnership with America's Choice Provider Network, under which it will become a provider under the network, which contracts with healthcare providers and all types and specialities to establish simple and reliable healthcare access and reimbursement arrangements. Renalytix will be able to offer KidneyIntelX testing to diabetic kidney disease patients.

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By Dayo Laniyan; dayolaniyan@alliancenews.com