The Mission Group announced its final results for the year ended 31 December 2019. Operating profit and reported PBT increased 8% each to £10.8m and £8.3m, respectively. EPS rose 9% to 9.47p. The company witnessed strong cash generation with net cash from operating activities increasing to £9.3m.
The board of HSBC Holdings has cancelled its fourth interim dividend of $0.21 per ordinary share, which was scheduled to be paid on 14 April 2020. The decision comes in response to a request from the Bank of England through the Prudential Regulation Authority (PRA).
Primary Health Properties announced its trading update for the period 1 January 2020 to 31 March 2020. On a pro forma basis, the LTV ratio was 44.8%, as of 31 March 2020, while cash on deposit totalled £137.0m. After capital commitments, the group has undrawn loan facilities and cash on deposit totalling £341.1m providing significant liquidity headroom.
Norcros has mothballed its operations and trading has stopped in South Africa, due to the 21-day lockdown announced by the government. In the UK, the group suspended its main production and assembly operations. It termed the reduction in expected operating profit as temporary and driven by the COVID-19 situation. It also withdrew its guidance for FY20/21.
Fidelity Special Values has issued a total of 450,000 new ordinary shares of 5p at a price of 172.6p per share from its block listing facility of 15 January 2019. These shares rank pari passu with the existing ordinary shares in issue.
The company expects the underlying revenue growth for Q1 to be around -8% down from Q1 of last year. The company also expects Q2 revenue and H1 trading margin to be substantially down compared to the prior year.
31-03-2020 07:06:05 • minute(s) read Author Sparks Team
Murray International Trust has declared an additional interim dividend of 17.5p per share, in lieu of the usual final dividend, for the year ended 31 December 2019. The dividend will be payable on 15 May 2020 to shareholders registered as on 3 April 2020. The ex-dividend date is 2 April 2020.
Financials & real estate
30-03-2020 08:07:22 • minute(s) read Author Sparks Team
Ergomed announced that it will provide drug safety services through its specialist pharmacovigilance provider, PrimeVigilance. It will render services for an ongoing US clinical trial to assess the effect of a rheumatoid arthritis treatment on patients with severe COVID-19 infections.
30-03-2020 07:28:26 • minute(s) read Author Sparks Team
The Mission Group provided an update regarding the impact of the COVID-19 outbreak on its business. The company notes that it is impossible to predict the impact of the outbreak on its performance in the current financial year ending 31 December 2020. It is clear that the impact will be material and the group is not providing guidance currently.
30-03-2020 07:26:21 • minute(s) read Author Sparks Team
Accsys Technologies’ financial results for the year ending 31 March 2020 remain in line with the board’s previous expectations. Sales volumes for the full year are expected to be a 57,500 cubic metres.
30-03-2020 07:25:43 • minute(s) read Author Sparks Team
The board reaffirms that the group will pay a final dividend for the financial year ended 30th September 2019 of 0.5p per ordinary share on 30th April 2020 to all shareholders on the register as on 31st January 2020.
27-03-2020 08:53:33 • minute(s) read Author Sparks Team
VinaCapital Vietnam Opportunity Fund announced its interim report for the period 1 July 2019 to 31 December 2019. During the period, the USD NAV in total return terms declined 2.3%, while the Vietnamese index increased by 1.7%. The share price increased 2.5% in USD terms, reflecting a narrowing of the discount to NAV to 11.9% over the period. Because of the recovery of the sterling exchange rate over this half year, the sterling returns were somewhat lower.