Company News
M&C Saatchi says Covid-19 impact less than expected
M&C Saatchi said the impact of Covid-19 was not as severe as expected and that it expected a successful result from talks to relax covenant limits for its bank loans.
Cambridge Cognition order intake nearly doubles in H1
Software group Cambridge Cognition has seen its order intake almost double in the six months ended 30 June following the company's switch in focus to having a more diversified portfolio and its efforts to commercialise new products.
Rotork warns on profits as orders, revenue slump
Industrial instruments maker Rotork on Tuesday warned on interim profits as the coronavirus pandemic hit demand for its products globally.
Redrow warns of full year profits hit as it scales back London ops
Housebuilder Redrow said annual profits would be “substantially” lower after scaling back its London operations and factoring in the impact of Covid-19.
Shell to write down assets by up to $22bn after review
Shell said it planned to write down the value of its assets by up to $22bn after lowering its outlook for oil and gas prices amid the Covid-19 pandemic.
Sage names Cath Keers as CMO
Newcastle-based software company Sage appointed Cath Keers as chief marketing officer on Tuesday.
IDE Group delays FY results
IT managed services provider IDE Group delayed its full-year results until 31 July on Tuesday after its annual audit dragged on longer than expected due to Downing Street's Covid-19 lockdown.
Staffline sees losses widen after "challenging" 2019
Staffline reported a slide in revenues on Tuesday, after the recruitment and training specialist battled “challenging” trading conditions throughout 2019.
Vianet yea-to-date losses 'comfortably' lower than anticipated
Data and business insight provider Vianet said on Tuesday that its "proactive response" to the management of Covid-19 had led to a "very encouraging" performance in the first two months of the financial year, with losses "comfortably" lower than anticipated.
Civitas raises dividend target, NAV grows
Real estate investment trust Civitas Social Housing slightly upped its FY dividend target on Tuesday following a small increase to the group's net asset value.
Trakm8's June device shipments rise after contract wins
Trakm8 Holdings said device shipments rose in June after two new contracts offset the impact of Covid-19 on the wider market for fleet telematics and data.
IronRidge gets new exploration licence in Ghana
Africa-focussed mineral exploration company IronRidge Resources announced on Tuesday that its wholly-owned Ghanaian entity, Green Metals Resources, has been granted the Mankessim South exploration licence in Ghana.
Predator prepared for extension of Morocco lockdown
Trinidad, Morocco and Ireland-focussed oil and gas company Predator Oil & Gas updated the market on Tuesday, following an announcement from Moroccan authorities the Covid-19 state of emergency in the country was being extended to 10 July.
Tower Resources makes further progress on Thali farm-out
Africa-focussed oil and gas company Tower Resources updated the market on the farm-out process at the Thali production sharing contract (PSC) in Cameroon on Tuesday, which was being conducted through its wholly-owned subsidiary, Tower Resources Cameroon.
FCA lifts ban on Wirecard's UK operation
The Financial Conduct Authority has lifted its ban on trading by Wirecard's UK business, restoring access to cash and payments for millions of users of apps that relied on its services.
Standard Life to replace CEO Skeoch with ex-Citi banker
Standard Life Aberdeen has hired Stephen Bird, a former Citigroup banker, as its next chief executive to replace Keith Skeoch, who is stepping down after more than 20 years at the asset manager.
Syncona revalues holding in Freeline after expanded series C
Healthcare investment and development company Syncona announced on Tuesday that Freeline Therapeutics - a biotechnology company focussed on developing curative gene therapies for chronic systemic diseases - has raised a further $80m (£65. 09m) from specialist global institutional investors in an expanded series C round.
AstraZeneca neurofibromatosis treatment gets orphan drug designation in Japan
AstraZeneca said on Tuesday that selumetinib, its treatment for genetic disease neurofibromatosis type 1, has been granted orphan drug designation in Japan.
Balfour Beatty JV secures £577m Hong Kong contract
FTSE 250 infrastructure group Balfour Beatty said on Tuesday that its joint venture, Gammon Construction, has been awarded a HK$5. 67bn (£577m) contract in Hong Kong.
Smiths to cut jobs as business slows
Smiths Group said it would cut jobs as part of a plan to reduce costs by £70m as the engineering company reported a slowdown in business because of Covid-19.