The virtual meeting specialist said the large-scale migration towards working from home associated with the COVID-19 outbreak was behind a material increase in business volumes.
The group was also confident it would beat prevailing market expectations in terms of revenue, EBITDA and cash generation for the 2020 financial year.
1.55pm: Allergy Therapeutics surges after profits top expectations
The allergy vaccines specialist said revenues for the 12 months ended June 30 would be at least 4% ahead of the comparable period last year on a constant currency basis.
The swing factors were operating cost efficiencies and the timing of the planned research and development expenditure.
11.40am: Tavistock Investments rises on strong update on protection portfolios
The asset manager continued to trade profitably during the coronavirus lockdown, while its newest fund, the ACUMEN ESG Protection Portfolio, has seen its net asset value decline less than 1% since launch in early December.
The protection level is set at 90% of its NAV’s highest ever value, with the algorithm automatically moving out of investment assets into cash as volatility increases when markets fall, and back out of cash as volatility decreases when markets recover.
10.10am: Crest Nicholson drops after slumping to a loss
Revenue for the six months to April 30 halved to £240mln as the housebuilder was forced to postpone a substantial number of private completions planned for the end of April due to the lockdown.
The firm has resumed build activity and reopened its sales offices from May 18 and said full-year adjusted profit before tax to be between £35-45mln, against last year’s £121mln.
In the oil sector, Petrofac Limited (LON:PFC) slipped 10% to 197.84p after warning revenues for the half-year to June 30 are expected to tank by 70% to US$1.6bn in its engineering and construction division.
The pandemic caused lump-sum projects in Iraq and India to be suspended, while other activity was materially slowed down and will be pushed back to next year.
Revenue for the engineering and production services division is expected to be US$450mln, in line with last year, as operations and maintenance activity continues in all regions.
8.45am: Escape Hunt leaps after launching remote escape room experiences
The operator of escape rooms tapped into the ‘at home’ leisure market by allowing groups of up to six players to meet over videochat and solve puzzles.
The novelty of its pre-coronavirus experiences, such as Doctor Who: Worlds Collide and The Fourth Samurai, involved being trapped in a room with your mates and looking for ways out, something already experienced by many lockdown-weary Brits, though the company said initial trials of these online version has been “extremely successful”.
That gives 3,060 boepd net to United and marks a 69% improvement of 69% compared to April’s output.
It comes as the El Salmiya-5 contributed via test production, with the El Salmiya field output at around 4,000 boepd.
Proactive news headlines
Power Metal Resources PLC (LON:POW) and Red Rock Resources PLC (LON:RRR) say an upsurge in interest in the Victoria Goldfields area has prompted their joint venture to speed up development plans in the region.
United Oil & Gas PLC (LON:UOG) has confirmed production growth in the Abu Sennan asset in Egypt, which yielded 13,900 barrels oil equivalent per day (boepd) in the first half of June, marking a 69% improvement of 69% compared to April’s output.
Amur Minerals Corporation PLC (LON:AMC) said it is on track to complete its Russian TEO feasibility study for the Kun-Manie project by the end of the year and has started planning a full bankable feasibility study (BFS).
Amryt Pharma (LON:AMYT) publicly filed a registration statement with the Securities and Exchange Commission to allow trading in the US for American Depositary Shares on the Nasdaq exchange.