(Sharecast News) - Recruitment software company Dillistone Group said in an update on Wednesday that the improved trading performance it noted in the later part of 2021 had continued into the new year.
The AIM-traded firm, which was holding its annual general meeting, said that across both its contingency and executive search products, it saw "reasons for optimism" with all its products performing broadly in line with, or better than, it had anticipated.
Chairman Giles Fearnley said the company could also confirm that Talentis had continued to grow rapidly, with recurring revenue in the first quarter being double that delivered in the fourth quarter of 2021.
"The current quarter is likely to see a further doubling in which case it will become the fourth successive quarter in which realised recurring revenue has doubled on the previous period.
"This growth rate is expected to slow over the traditionally quiet summer, but we are confident that the product will deliver further strong growth in the final months of the year.
"The business is trading in line with market expectations for the full year."
At 1157 BST, shares in Dillistone Group were up 2.86% at 21.6p.
Reporting by Josh White at Sharecast.com.
Dillistone (DSG)