St James House PLC Trading Statement (8192V)
August 11 2020 - 9:00AM
UK Regulatory
TIDMSJH
RNS Number : 8192V
St James House PLC
11 August 2020
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
11 August 2020
ST. JAMES HOUSE PLC
("SJH", the "Group" or the "Company")
Trading Update
The Board of Directors of the Company (the "Board") is pleased
to provide the following trading statement and update on recent
developments.
Trading Update
Payments Division
The payments division is pleased to report improved trading
through July, with non-card related GBP and EURO activity improving
118% and 54% respectively. Still growing from a relatively low base
the Company will continue to monitor the data closely and develop a
more meaningful data set as patterns in growth emerge over the
coming months.
In card payment services, Prepaid Card Products have been steady
with a 2% increase in active customers, with a 50% growth in spend
volume across active users.
The merchant services team have two acquiring pipelines active,
one focused on high risk merchants and the other on medium risk and
start-ups, the first clients will go live over the next few weeks
and the Company looks forward to reporting on the progress by the
end of its third quarter.
The impact of COVID-19 continues to disrupt visits to potential
merchants. However, we expect client visits to return to normal as
the restrictions on movement and social distancing are relaxed over
the coming weeks.
Lottery Business
As COVID-19 pandemic measures continue to be eased, Prize
Provision Services Ltd ("PPS") has seen the number of entries into
the lotteries it administers stabilise, and remains confident of an
overall increase in entries during the second half of the year.
As the charity sector returns to normal and begins to evaluate
fundraising methods, it is anticipated that lotteries will rank
highly as reliable and robust fundraising methods. Lincoln City FC
is one such client who have already re-focussed on their Academy's
fundraising and seen the launch of Imps Lottery,
www.impslottery.com which offers supporters the chance to win match
hospitality, match tickets and signed shirts alongside cash prizes.
The club has a raft of activity planned and PPS management are
hopeful that the lottery will prove popular within the Lincolnshire
area.
Group
Astro Kings, the joint venture 5-a-side football centre located
in Nottingham, fully reopened in line with Government and FA
guidance on 18 July 2020 and has seen pitch occupancy levels return
to the levels which were projected for this time of year. COVID-19
restrictions did reduce revenue at the venue but did not have a
material impact on the group. While a second wave or local lockdown
could affect the venue, it is not expected that this would have a
material impact on the Group.
Following the successful completion of the financing announced
on 30 June 2020, the Group's working capital position has improved
significantly, and, when combined with the current trading position
outlined above, does, the Board believes, bode well for the future.
However, concerns over the wider economic environment, as outlined
in last week's economic forecast by the Bank of England, is to be
carefully monitored, and the Board is approaching the second half
of the financial year with caution, conserving the Group's
financial resources wherever possible. Some early indications
suggest that the challenges facing a number of businesses are
creating new opportunities for the Payments Division, but the Board
expects to have a clearer understanding of this by the end of the
Company's third quarter.
Graeme Paton, Chief Executive, commented, "The summer months are
currently proving to be encouraging from a trading perspective, as
many businesses and organisations review their service providers in
the light of the Covid-19 pandemic. While we remain cautious
regarding the wider economy, we are hopeful of continued
improvement in the Group's trading over the remainder of the
financial year."
For further information, contact:
St. James House PLC
Roger Matthews
Website www.sjhplc.com 020 3655 5000
Allenby Capital Limited
(Nomad, Financial Adviser & Broker)
John Depasquale / Nick Harriss 020 3328 5656
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 rns@lseg.com or visit www.rns.com.
END
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