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CentralNic Group PLC - COVID-19 Update

RNS Number : 8176I
CentralNic Group PLC
06 April 2020
 

6th April 2020

CentralNic Group plc

("CentralNic" or the "Company", or the "Group")

 

COVID-19 Update

 

CentralNic Group PLC (AIM: CNIC), a global internet platform company that derives revenue from the subscription sales of internet domain names and internet services, announces an update in relation to COVID-19.

 

To date, CentralNic has not experienced interruptions in its services to customers or in its supply chain, and the Company confirms that its current trading is in line with market expectations.

 

CentralNic's business is expected to remain resilient. Its services are procured and delivered over the internet, and the majority of CentralNic's revenues are payments from existing subscribers and customers on rolling contracts. The Company's core product is the sale of domain names, which are core infrastructure that enable the functioning of email and websites - the most important communication tools used between work colleagues working remotely and between companies and their customers.

 

As providers of essential internet services, a number of CentralNic Group companies were well prepared for the current conditions, with Business Continuity plans already in place precisely for situations where staff were unable to work from the office. CentralNic pre-emptively stopped travel, meetings and office working across its global locations in advance of formal Government directives, and has been successful in protecting its staff from the spread COVID-19. These steps have enabled us to continue to run all services company-wide without interruption and to utilise all staff productively via remote working.

 

CentralNic plans to release both its year end results for 2019 and its Q1 2020 headline results in the week commencing 27th of April.

 

 

For Further Information:

CentralNic Group Plc

Ben Crawford, Chief Executive Officer

Don Baladasan, Group Managing Director

Michael Riedl, Chief Financial Officer

 

+44 (0) 203 388 0600

Zeus Capital Limited (NOMAD and Joint Broker)

Nick Cowles / Jamie Peel (Corporate Finance)

John Goold / Rupert Woolfenden 

(Institutional Sales)

 

+44 (0) 161 831 1512

+44 (0) 203 829 5000

Stifel (Joint Broker)

Fred Walsh / Alex Price

 

+44 (0)20 7710 7600

Newgate Communications (for Media)

Bob Huxford

Tom Carnegie

Robin Tozer

+44 (0) 203 757 6880

[email protected]

 

 

 

 

About CentralNic Group plc 

CentralNic (AIM: CNIC) is a London-based AIM-listed company which drives the growth of the global digital economy by developing and managing software platforms allowing businesses globally to buy subscriptions to domain names, used for their own websites and email, as well as for protecting their brands online.  Its core growth strategy is identifying and acquiring cash-generative businesses in its industry with annuity revenue streams and exposure to growth markets and migrating them onto the CentralNic software and operating platforms.

 

CentralNic operates globally with customers in almost every country in the world.  It earns recurring revenues from the worldwide sales of internet domain names and other services on an annual subscription basis. 

 

For more information please visit: www.centralnicgroup.com

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Centralnic Group PLC

Price: 84.5

Market: LSE
Market Cap: £159.57 m
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