City briefs: Redcentric and International Personal Finance
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Harrogate-headquartered Redcentric, an IT managed services provider, has published a revised date for the publication of its final results due to delays inflicted by COVID-19.
The company says its auditor, KPMG LLP, has requested additional time to complete its procedures because of the practical challenges caused by the pandemic.
Redcentric’s preliminary results for the 12 months to 31 March 2021 will now be released on Thursday 15 July 2021, a short delay to the previously announced date of Thursday 24 June 2021.
The Board says it expects to report full year results in line with its trading update provided on 6 April 2021.
Leeds-based lender International Personal Finance has upgraded its market expectations.
Since its quarter one trading update issued on 29 April 2021, the Group says its operational performance has continued to be positive.
Credit issued has been broadly in-line with its internal expectations despite tighter COVID-19 related restrictions in a number of markets.
The firm’s business plan had assumed a weakening in collections performance due to subsequent waves of the pandemic in the first half of 2021.
In contrast, it notes its actual collections performance has continued to be very strong resulting in a faster-than-anticipated improvement in impairment as a percentage of revenue.
The company’s update adds: “While we remain cautious given the dynamic COVID-19 environment, the faster-than-anticipated improvement in impairment in April and May is expected to result in a further improvement in the full-year impairment charge and a significantly stronger rebound in profitability in 2021 than was expected at the time of our quarter one trading update.”