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There was a smart rally on the London Stock Exchange on 16 June 2020, with all the major benchmark indices making good gains, FTSE 100 was up y 2.94%, FTSE 250 gained 2.20%, FTSE 350 was up by 2.81%, and FTSE AIM All-Share was up by 1.64%. It was one of the strongest days in last one month despite dismal jobs data. Traders drew some confidence with growing hopes of more global stimulus to support the economy. Here we are going to discuss some earnings from the FTSE stocks, Ashtead Group PLC, Braemar Shipping Services PLC, Checkit PLC and Oxford Biodynamics PLC.
Ashtead Group PLC (LON:AHT)
Ashtead is an international equipment rental company, founded in 1947. It operates in the US, UK and Canada under the name of Sunbelt Rentals. The company was inducted on the London Stock Exchange in 1968.
Result Updates-
Ashtead Group PLC declared their Q4 2020 and year-end results on 16 June 2020. The revenue reported for Q4 2020 was lower by 2 per cent to GBP 1,125 million (2019: GBP 1,106 million), and the operating profit slumped by 43 per cent to GBP 155 million (2019: GBP 250 million). The overall group's revenue for the year increased by 9 per cent, and the earnings per share (EPS) was 175.0 pence (2019: 174.2 pence).
Though Covid-19 pandemic impacted the business in the fourth quarter, the results of the first three-quarters of 2019/2020 prove that the company continued to perform well. Trading volumes were lower in the second half of March and April because of the pandemic but were mitigated with support of specialty businesses. The company also took steps for optimizing cash flow by reducing operating cost and thus, strengthening liquidity position.
Trading Details-
Ashtead Group PLC (LON:AHT) on 16 June 2020, last traded at GBX 2,649.00, up by 9.60 per cent from its previous close. The company's 52 weeks high/low range was reported at GBX 1,300.00 / 2,774.00. It was having a market Cap of GBP 10,859.82 million.
Braemar Shipping Services PLC (LON:BMS)
Braemar Shipping Services PLC is into global supply of competence oriented and knowledge services to the insurance, shipping, marine and offshore industries. It was founded in 1972 and has its headquarters in London, UK. The company got listed on the London Stock Exchange in November 1997. It is divided into four segments- financial, logistics, shipbroking and engineering.
Result Updates-
Braemar Shipping Services PLC declared their preliminary results on 16 June 2020 for the year ending on 29 February 2020. The revenue reported for the year was GBP 120.8 million (2019: GBP 117.9 million), and operating profit was GBP 9.6 million (2019: GBP 9.1 million). The overall revenue increased by 2.5% and the operating profit was up by 5.5%. The company had reported that performance of the Financial Division remained muted, even when there was continued growth in client retainers. The company has further reported that the decision of not to recommend any dividend was taken in view of the worries of Covid-19.
The fiscal year ending on 29 February 2020 was a successful one. Commenting on the performance, Ronald Series, the Executive Director of Braemar Shipping Services PLC said that the company had achieved a considerable improvement over the previous year.
Trading Details-
Braemar Shipping Services PLC (LON:BMS) on 16 June 2020 (EOD), last traded at GBP 117.00, down by 1.68 per cent from its previous close. The company's 52 weeks high/low range was reported at GBP 94.50 / 233.50. It was having a market Cap of GBP 37.73 million.
Checkit PLC (LON:CKT)
Checkit PLC is a global technology group that designs, conceives, and markets products and services that connect, monitor and control. The company was founded in 1948 and has its headquarters in Cambridge, UK. It helps the complex and multi-size businesses to optimize at every level.
The company launched a new website and new brand in partnership with Tutela, Next Control and Axon, recently in May 2020, the company launched its. It joined the London Stock Exchange in 1948, more than 70 years ago.
Result Updates-
Checkit PLC declared their preliminary results on 16 June 2020 for the year ending on 31 January 2020. The revenue from continuing operations reported for the year was GBP 9.8 million (2019: GBP 1.0 million) and operating loss from continuing operations was GBP 16.5 million (2019: GBP 4.5 million). The company’s operating loss prior to the non-recurring or special items was £5.2million (2019: £4.5m).
Cash as on 31 January 2020 was GBP 14.3 million (2019: 10.1 million). This has made the company continue perusing new product development program amidst the current economic uncertainty as a result of the pandemic. Cash as on 31 May 2020 was GBP 13.1 million.
Trading Details-
Checkit PLC (LON:CKT) on 16 June 2020 (EOD), last traded at GBP 30.50, up by 1.67 per cent from its previous close. The company's 52 weeks high/low range was reported at GBP 24.00 / 56.50. It was having a market Cap of GBP 18.61 million.
Oxford Biodynamics PLC (LON:OBD)
Oxford Biodynamics PLC is a biotechnology company, which is primarily involved with biomarker research and development. It was formed in June 2007, with its headquarters in the UK.
Result Updates-
Oxford Biodynamics PLC declared their interim results on 12 June 2020, for the year ending on 31 March 2020. The revenue reported was GBP 0.2 million (H1 2019: GBP 0.6 million), and operating loss increased to GBP 2.4 million (H1 2019: GBP 1.7 million).
Trading Details-
Oxford Biodynamics PLC (LON:OBD) on 16 June 2020 last traded at GBX 63.75, up by 0.39 per cent from its previous close. The company's 52 weeks high/low range was reported at GBX 50.50 / 148.00. It was having a market Cap of GBP 58.78 million.
