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CentralNic Group In line and expects to remain resilient

CentralNic Group PLC (LON:CNIC), a global internet platform company that derives revenue from the subscription sales of internet domain names and internet services, announces an update in relation to COVID-19.

To date, CentralNic has not experienced interruptions in its services to customers or in its supply chain, and the Company confirms that its current trading is in line with market expectations.

CentralNic’s business is expected to remain resilient. Its services are procured and delivered over the internet, and the majority of CentralNic’s revenues are payments from existing subscribers and customers on rolling contracts. 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.

As providers of essential internet services, a number of CentralNic Group companies were well prepared for the current conditions, with Business Continuity plans already in place precisely for situations where staff were unable to work from the office. CentralNic pre-emptively stopped travel, meetings and office working across its global locations in advance of formal Government directives, and has been successful in protecting its staff from the spread COVID-19. 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 Group plans to release both its year end results for 2019 and its Q1 2020 headline results in the week commencing 27th of April.

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