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The macroeconomic outlook is now increasingly becoming difficult to predict amid the rising impact of Covid-19. Following the result of the general election, the UK appeared to have increased business confidence and a growing appetite for investment. However, the spread of the coronavirus has completely washed out the euphoria, taking the global economy by storm, significantly impacting the lives. The situation has been further exacerbated by the geopolitical unrest among the oil producers, which is having a cascading effect on the financial markets around the world. In response to the economic meltdown, the Bank of England had recently taken several measures to boost the economy.
The businesses are taking all the required steps in terms of maintaining business continuity and a large proportion of the workforce is now working from home, in line with Government guidelines. The businesses are investing in technology to keep close contacts with customers to serve them better. Let us take a look at recent updates released by three companies amid the Coronavirus crisis.
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- Arbuthnot Banking Group announces a profit before tax of £7 million in its FY19 results
On 26th March 2020, the company released its results for the fiscal year 2019 period ended 31st December 2019. The companyâs net interest income rose to £58,637 thousand in the fiscal year 2019 as compared to the prior year. In addition, the financial services companyâs net fee & commission income rose to £13,828 thousand in the fiscal year 2019 as compared to the prior year. The Total capital ratio of the company stood at 17.3 per cent.
In the reported financial year, Customer loans increased by 31 per cent to £1,599 million as compared to 1,225 million in the year 2018. Also, the Customer deposits increased by 22 per cent to £2,085 million in the Financial year 2019 as compared to 1,714 million in the year 2018. The Assets under management by the company increased by 12 per cent to £1,107 million from £985 million in 2018. The companyâs profit before taxation increased to £7 million in 2019 as compared to £6.8 million in the previous year.
The companyâs underlying profit before tax rose to £5.8 million in 2019 from £4.4 million in 2018. The companyâs operating income surged by 7 per cent to £72.5 million in 2019 from £67.9 million in 2018. The companyâs net assets increased to £208 million from £196 million in 2018. The companyâs annual dividend rose to 37 pence per share as compared to 35 pence per share in the previous year.
 Amid the Coronavirus outbreak, it is difficult to give any further guidance for 2020 as the economic scenario remain uncertain. However, the company remains well-positioned and hold significant levels of surplus liquidity.
(Source: Companyâs filings, LSE)
- Business overview: Arbuthnot Banking Group Plc
United Kingdom-based Arbuthnot Banking Group Plc (LON:ARBB) is a consumer lending group, which is involved in the banking and financial services. The group has several divisions: commercial banking, Asset financing, private banking and other ancillary functions.
- Arbuthnot Banking Group-Stock price performance
Arbuthnot Banking Group Plcâs shares were trading at GBX 740.00 at the time of writing before the market close (at 08:58 AM GMT) on 27th March 2020. Stock's 52 weeks High is GBX 1,450.00 and Low is GBX 600.00. The companyâs beta stood at 1.27, which means it is more volatile in comparison to the benchmark index. The companyâs market capitalisation stood at around £110.18 million, while the gross annual dividend yield of the company was 5.00 per cent.
- Hilton Food Group Plc trading update for the FY19
The leading specialist international food packing business has performed slightly ahead of the management's expectations. Due to solid performance in both Australian and UK markets, the company delivered strong year-on-year sales and volume growth during the financial year 2019. In addition, the company recorded good growth across the proteins, the vegetarian and vegan business during the year.
Hilton's trading outlook remains positive. The companyâs financial position remains strong, having completed 2019 with net bank debt of £87 million, underpinned by good operating cash flow and with incremental facilities to fund additional expansion opportunities.
Hilton remains well poised to deliver continued growth over the medium term enhanced by further opportunities to develop its cross-category business in both domestic and international markets.
During the currently evolving Covid-19 scenario, the company is focussed on the wellbeing of employees and customers during these challenging times; and putting all effort in meeting the current rise in consumer demand for protein-based products.
The company has taken several measures to protect its people and to minimise contact in line with social distancing. Hiltonâs facilities are fully operational, and in addition, the company has business continuity plans in place and robust supply chain options, which may be tested during this period as the company continues to support the government in feeding the nation.
- Business overview: Hilton Food Group Plc
Hilton Food Group Plc (LON:HFG) is a Huntingdon, the United Kingdom based consumer goods company that is engaged in the business of packing of meat. The meat company has two major segments geographically, which are, the Western Europe segment, including the United Kingdom, Ireland, Netherlands, Sweden and Denmark regions and the Central Europe segment, which includes the companyâs packaging of meat operations, whose operations are run from Poland and supplied to customers around the Central European countries.
- Hilton Food Group Plc-Stock price performance
Hilton Food Group Plcâs (LON:HFG) shares were trading at GBX 990.00 at the time of writing before the market close (at 09:04 AM GMT) on 27th March 2020. Stock's 52 weeks High is GBX 1,133.86 and Low is GBX 711.00. The companyâs beta stood at 0.44, means it less volatile in comparison to the benchmark index. The companyâs market capitalisation stood at around £845.03 million, while the gross annual dividend yield of the company was 2.32 per cent.
Integrated Diagnostics Holdings Plc - Covid-19 trading update
The leading consumer healthcare company, considering the ongoing covid-19 pandemic issued a trading update with respect to its operations in Egypt, Jordan and Sudan. Egypt, having accounted for 85.5 per cent of unaudited revenues in 9M 2019, is the Group's largest and fastest-growing market. Jordan contributed for 11.7 per cent of the Group's unaudited revenues in 9M 2019. Sudan contributed for 1.5 per cent of unaudited revenues for the reported period.
Most of the governments have imposed curfews or lockdowns to fight against the novel Coronavirus spread. The company has stated that it will join hands with the governments to serve the people. In Egypt, all 399 branches of the company's two Egyptian subsidiaries would remain open during the hours of 8am-5pm, Sunday through Saturday and continue to perform diagnostic tests for patients.
In Jordan, the curfew includes the shutdown of pharmacies. One Jordanian branch of the company remains open with special permission from the authorities to provide Covid-19 testing. The second branch is located inside a hospital facility and so remains open under the terms of the curfew. In Sudan, branches of the Company's Sudanese subsidiaries will remain open during the hours of 8am-7pm and would continue to perform diagnostic tests for patients.
- Business overview: Integrated Diagnostics Holdings Plc
Integrated Diagnostics Holdings Plc (LON:IDHC) is a woman-led consumer healthcare company in the African and Middle East region with operations in Nigeria, Sudan, Jordan and Egypt. The companyâs services portfolio includes Immunology, Microbiology, Endocrinology, Clinical Chemistry, Radiology and many other services. The company runs nearly 20,000 tests per hour, having an employee base of more than 500 people and 100 plus highly qualified doctors.
- Integrated Diagnostics Holdings Plc -Stock price performance
Integrated Diagnostics Holdings Plcâs (LON:IDHC) shares were trading at USD 3.27 at the time of writing before the market close (at 09:08 AM GMT) on 27th March 2020. Stock's 52 weeks High is USD 5.20 and Low is USD 2.80. The companyâs beta stood at 0.45, means it is comparatively less volatile in comparison to the benchmark index. The companyâs market capitalisation stood at around £407.89 million, while the gross annual dividend yield of the company was 5.33 per cent.
