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Let’s have a glimpse of financial highlights and share price performance of three companies which announced their earnings amid the deepening impact of the Covid-19 pandemic. These companies are Associated British Foods Plc, Egdon Resources Plc and Lidco Group Plc, who belong to varied sectors of Food Producers, Oil & Gas Producers and Health Care Equipment & Services, respectively.
Overview of Associated British Foods Plc
Associated British Foods Plc (LON:ABF) is a one of the prominent retail as well as ingredient group, with business interest in sugar, Agriculture and Grocery. The company operates in Fifty-two countries throughout Asia, Australia, America, Europe and Southern Africa. The company employs around 138,000 work staffs all over the globe.
(Source: company website)
ABF – Financial Highlights
On 21st April 2020, the company announced the interim result for the 24 weeks ended 29th February 2020.
(Source: company website)
- The company has announced a final dividend of 34.3 pence per share on 6th December 2019, and £271 million is the total amount, which was paid on 10th January 2020.
- The revenue of the company for 24 weeks ended 29th February 2020, increased by 2 per cent at the actual exchange rate and increased by 3 per cent at constant currency to £7.6 billion as compared to the prior year.
- In December 2019, the Grocery segment of the company acquired Al'Fez, a food brand, in the United Kingdom.
- In the first of half of the year 2019, the company has sold off its Torula Facility. The cash earnings amounted to £5 million, and associated goodwill was reported at £8 million.
- During the half-year, Adjusted profit before tax increased by 1 per cent to £636 million at actual exchange rates. The adjusted operating profit increased by 7 per cent to £682 million at actual exchange rates.
- In April 2020, the Bank of England confirmed the company’s entitlement to access the loan under the COVID Corporate Financing Facility.
ABF – Share Price Performance
(Source: Thomson Reuters)
At around 02:53 PM (GMT), on 21st April 2020, Associated British Foods Plc’s stock decreased by 5.81 per cent or GBX 115.43 points to GBX 1,870.57 on London Stock Exchange, as compared to previous day closing price of GBX 1,986.0.
As on 21st April 2020, the market capitalisation of ABF was reported at GBP 15.72 billion with regards to the stock’s current market price. Associated British Foods Plc’s free float and outstanding shares had been reported at 345.28 million and 791.67 million, respectively.
Overview of Egdon Resources Plc
Egdon Resources Plc (LON:EDR) was incorporated in the year 1997, and it bagged its first licence in the year 1998. It is focusing on the hydrocarbon-producing basins of onshore gas & oil production and exploration operations in the United Kingdom.
EDR – Financial Highlights
On 21st April 2020, the company announced its interim result for the year ended 31st January 2020.
- The production of oil increased to 32,758 barrels of oil equivalent at an average of 178 boepd in H1 2020 as compared to 30,026 boe at an average of 164 boepd during H1 2019. However, revenue reduced to £0.675 million as compared to £1.210 million in H1 2019.
- Loss before impairments increased to £1.044 million as compared to £0.724 million during the H1 2019.
- The company signed Farm-out agreement with Shell U.K. Limited for P1929 and P2304.
- The company is continuously focusing on managing cash resources and reported the cash & cash equivalents of £0.78 million at the end of 31st January 2020, which is less than the prior year of £1.78 million, and its net current assets decreased to £0.37 million as compared £2.35 million.
- On 14th April 2020, Egdon Resources Plc declared an equity fundraising of around £0.5 million, before expenses, through a subscription for new shares.
- There is no impact in the production of the company due to lockdown amid novel coronavirus.
- Due to Novel coronavirus, business is going to be impacted as oil prices have reduced significantly because of the reduced demand globally.
EDR – Share Price Performance
(Source: Thomson Reuters)
At around 02:46 PM (GMT), on 21st April 2020, Egdon Resources Plc’s stock decreased by 9.71 per cent or GBX 0.204 points to GBX 1.90 on London Stock Exchange, as compared to previous day closing price of GBX 2.10.
As on 21st April 2020, the market capitalisation of EDR was reported at GBP 6.81 million with regards to the stock’s current market price. Egdon Resources Plc’s free float and outstanding shares had been reported at 128.28 million and 324.07 million, respectively.
Overview of Lidco Group Plc
Lidco Group Plc (LON:LID) is a prominent company engaged in the business of supplying hemodynamic monitoring equipment (minimally invasive) to observe the blood flow around the body and make sure that organs of the body are sufficiently oxygenated. The company launched its first product in the year 1999 and has three products i.e. LiDCO +Plus, LiDCO unity and LiDCO rapid.
(Source: company website)
LID – Financial Highlights
On 21st April 2020, the company announced its final results for the period ended 31st January 2020.
(source: company websites)
- During the year, LiDCO product revenue without third-party products increased by 19 per cent to £7.36 million due to robust export growth.
- Total revenue increased by 3 per cent to £7.55 million. Till the end of 31st January 2020, the recurring revenues related to LiDCO product sales was of 75 per cent, which is lower than prior year-end of 81 per cent.
- During the year, Gross margin increased to 65.2 per cent as compared to 58.7 per cent of the year 2019 due to a higher percentage of high-margin LiDCO product revenues.
- Net cash outflow before financing decreased to £0.15 million (FY19: £1.51 million) during FY2020. Net cash inflow in the second half of the year 2020 was of £0.17 million (H2 FY19: outflow of £0.34 million).
- Due to novel coronavirus, the sales of its monitors increased to 195 after 31st January 2020 as compared to the entire FY2020, where only 219 monitors were sold.
- Amid the spread of COVID-19, the company has experienced a substantial increase in sale in china, Europe and the United Kingdom.
LID – Share Price Performance
(Source: Thomson Reuters)
At around 02:17 PM (GMT), on 21st April 2020, Lidco Group Plc’s stock decreased by 5.00 per cent or GBX 0.45 points to GBX 8.55 on London Stock Exchange, as compared to previous day closing price of GBX 9.00.
As on 21st April 2020, the market capitalisation of LID was reported at GBP 21.98 million with regards to the stock’s current market price. Lidco Group Plc’s free float and outstanding shares had been reported at 115.53 million and 244.17 million, respectively.
