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RDGC - Ridgecrest News Story

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Last Trade - 05/07/21

Sector
Financials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £8.09m
Position in Universe th / 1782

BRIEF-Nakama Says Trading To Date For Year Ending 31 March 2020 Broadly In Line With Expectations

Tue 11th February, 2020 8:02am
Feb 11 (Reuters) - Nakama Group PLC  NAK.L :
    * NAKAMA GROUP PLC - TRADING TO DATE FOR YEAR ENDING 31
MARCH 2020
HAS BEEN BROADLY IN LINE WITH MANAGEMENT'S EXPECTATIONS
    * NAKAMA GROUP PLC - DURING FINAL QUARTER OF FINANCIAL YEAR
GROUP
HAS ENCOUNTERED A NUMBER OF CHALLENGES
    * NAKAMA - DUE TO CURBS ON MOVEMENT OF PEOPLE, FIRMS
CHOOSING TO
DELAY START DATES OF NEW HIRES UNTIL FULL IMPACT OF CORONAVIRUS
IS DETERMINED
    * NAKAMA - FIRMS CHOOSING TO DELAY START DATES OF NEW HIRES
DIRECTLY IMPACTING REVENUE RECOGNITION FOR GROUP
    * NAKAMA GROUP PLC - RECRUITMENT ACTIVITY GENERALLY HAS BEEN
IMMEDIATELY IMPACTED BY EFFECTS OF CORONAVIRUS
    * NAKAMA - WHILE HEADCOUNT HAS DECREASED YOY, BOARD BELIEVES
REDUCTIONS NECESSARY IN ORDER TO BRING COST BASE IN LINE WITH
REVENUE
    * NAKAMA - CASH POSITION REMAINS SEVERELY CONSTRAINED & CO
FACES
SHORT-TERM CASH CHALLENGE UNTIL FULL IMPACT OF COST REDUCTIONS
COMES THROUGH
    * NAKAMA - CONSIDERING ALTERNATIVE SOURCES OF FUNDING, BUT
GROUP
STILL URGENTLY REQUIRES INJECTION OF CAPITAL

Source text for Eikon:  ID:nRSK5440Ca 
Further company coverage:  NAK.L 

 ((Reuters.Briefs@thomsonreuters.com ;;))
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