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CentralNic higher as it says business has ‘not experienced interruptions’ during coronavirus pandemic

The domain name specialist added that current trading was in line with market expectations

Centralnic Group PLC - CentralNic says business has ‘not experienced interruptions’ during coronavirus pandemic

CentralNic Group PLC (LON:CNIC) said it has “not experienced interruptions in its services” during the coronavirus pandemic, and that its current trading is in line with market expectations.

The AIM-listed firm said its business is “expected to remain resilient” as its services, the subscription sales of internet domain names, were procured and delivered online while the majority of its revenues are payments from existing subscribers and customers on rolling contracts.

WATCH: CentralNic welcomes new key hires and says it's 'well prepared' for current conditions

“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”, CentralNic said in a statement.

The firm added that a number of its companies were “well prepared for the current conditions”, having pre-emptively stopped staff travel, meetings and office working across its global locations.

“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 said.

The shares jumped 5.9% to 87.4p in early deals on Monday.

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Quick facts: Centralnic Group PLC

Price: 89 GBX

LSE:CNIC
Market: LSE
Market Cap: £168.07 m
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