React Group PLC Trading Update (7091C)
21 Ottobre 2020 - 8:00AM
UK Regulatory
TIDMREAT
RNS Number : 7091C
React Group PLC
21 October 2020
The information contained within this announcement was deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
REACT Group Plc
("REACT" or the "Company")
Trading update
REACT (AIM: REAT.L), the leading specialist cleaning, hygiene
and decontamination company, is pleased to announce a trading
update for the year ended 30 September 2020.
REACT has continued to make strong progress in the period,
achieving 42% organic growth in revenue to approximately GBP4.4m*
(12 months ended 30 September 2019: GBP3.1m).
Growth in revenue was as the result of both strong underlying
performance in the core business and demand driven by COVID-19
decontaminations. H ealthcare, rail, and facilities management
sectors performed well, augmented by incremental business in other
areas such as education and residential care homes.
The Board expects profit before tax for the year ended 30(th)
September 2020 to be ahead of market expectations driven by both
COVID-19 related decontaminations and a number of non-COVID-19
related projects.
The Company's financial position is robust and underlying cash
generation remained strong during the year ended 30 September 2020.
Net cash at 30(th) September 2020 was also ahead of market
expectations at GBP1.8m*.
REACT intends to publish its audited results for the year ended
30(th) September 2020 towards the end of January 2021.
*Figures remain subject to audit
Shaun Doak, Chief Executive of REACT, said:
"We are pleased to have delivered another year of strong
progress in which we saw accelerating organic growth and
achievement of the Group's first full year profit.
Whilst we have seen a level of disruption from COVID-19, we have
also experienced incremental demand. Core sectors of the business
performed well alongside net new customer relationships that have
evolved in areas of development such as education and residential
care homes. This was not true of every sector however, work
declined at the height of lockdown in the judiciary where we
sanitise and decontaminate courtrooms, cells, and custody vehicles.
The sector has since been returning to near normal activity as
restrictions have eased.
The new financial year has started well with momentum
continuing. The immediate outlook is positive, although we are
mindful that the seemingly ever-changing environment in which we
work can bring with it both opportunities and challenges. As a
management team we are reviewing tactics almost daily to ensure
REACT remains an effective solution for our customers, our
colleagues remain safe, and the business profitable.
The last year has presented challenges and opportunities in
almost equal measure. On behalf of the Board I wish to express our
thanks and appreciation to the terrific team that make up the REACT
business. They have responded with focus and commitment throughout,
ensuring we continue to deliver services that help our customers
return their property to safe operational use."
For more information:
REACT Group plc
Shaun Doak, Chief Executive Of cer via Allenby Capital
Andrea Pankhurst, Chief Financial Officer Tel: +44 (0) 203 328
5656
Allenby Capital Limited
(Nominated Adviser and Broker)
Nick Athanas / Liz Kirchner (Corporate Tel: +44 (0) 203 328
Finance) 5656
Amrit Nahal / Tony Quirke (Sales & Corporate
Broking)
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END
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