St James House PLC Trading Statement (2066K)
December 31 2020 - 2:00AM
UK Regulatory
TIDMSJH
RNS Number : 2066K
St James House PLC
31 December 2020
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
31 December 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
Payment Services
The period 27 November to 23 December 2020 has seen steady
performance in the payments division, with GBP:USD FX pair
transactions growing 43% in volume, however the company did see a
slowdown in incoming EUR deposits of around 18%. Overall, the
number of active multicurrency accounts grew by 5% over the past 25
days, and the Company expects the take up rate to increase
significantly in the New Year supported by sales and marketing
activities.
There has been a 10% increase in the numbers of cards in
circulation, while average transaction values per card for the
period was GBP219, down from the previous monthly average spend per
card of GBP340. Spending levels per card have been volatile over
2H2020, which the Management Team believes is related to the
fluctuating Covid lockdown measures. Overall however, the Payment
Services business has proved resilient to the implications of Covid
containment measures to date, and similarly, the proposed
post-Brexit trade deal is not expected to have any material impact
on the business.
The Merchant Services Group has started prospecting for new
clients focusing on opportunities provided via partners and
referral agents in order to expand its reach in order to improve
success rates in the current challenging climate.
Lottery Services
As anticipated, Prize Provision Services Limited ("PPS") is
pleased to be able to report a small rise in the number of weekly
entries into the lotteries it administers over the final quarter of
the year. Despite the impact of COVID-19, overall entries will
finish the year only slightly below the number at the end of 2019
and well in excess of 2018.
The stability of these numbers throughout the year, despite this
year's pandemic, is testament to the robust nature of lottery
fundraising, a characteristic that is becoming increasingly to
societies who are looking to create reliable revenue streams.
PPS has now begun sales operations in the North West from the
Group's Liverpool office, and it is hoped new clients will begin to
be recruited early in the new year. Neither the increased Covid
restrictions nor the Brexit changes are expected to materially
affect these increased sales efforts.
Legal Services
St Frances House Ltd ("St Frances") continues to build its
pipeline and has seen an increase in current active cases of 78
giving a total of 260 cases live as of 23 December 2020 with a
gross work in progress value of GBP1.1m. Cases will continue to be
added at a rate of 10-15 per week after the seasonal break. As
cases begin to settle and revenue is realised the Company will give
a detailed update at the end of St Frances' first full quarter as
cases settle and the timescale of claim to settlement becomes
clearer.
Group
The Company and its auditors continue to work on the preparation
of its audited annual report and accounts for the year to 31
January 2020 (the "Annual Report"), however it has not proved
possible to complete everything as had been hoped, and this is now
expected to be completed in January . The Company's unaudited
half-year financial results for the six months to 31 July 2020 will
also not be published until the Annual Report is published. As a
result, the Company's ordinary shares of 1 pence each will continue
to be suspended from trading on AIM until these financial results
are published.
Graeme Paton, Chief Executive, commented, "The Company has
managed to maintain performance or grow across all divisions, which
given the circumstances with the uncertainty caused by ever
changing travel and trading restrictions, the lack of clarity
around Brexit causing massive distractions for customers and the
usual seasonal break, is a performance that is testament to the
dedication and hard work of our people."
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTXBLLXBLLBFBL
(END) Dow Jones Newswires
December 31, 2020 02:00 ET (07:00 GMT)
Tintra (LSE:TNT)
Historical Stock Chart
From Apr 2024 to May 2024
Tintra (LSE:TNT)
Historical Stock Chart
From May 2023 to May 2024