Recruitment Company InterQuest Commences Formal Sale Process

LONDON (Alliance News) - InterQuest Group PLC said Tuesday that it is starting a formal sale process, as part of a review of its options to maximise value for shareholders.

The recruitment company said that in a "rapidly evolving industry, where remaining at the forefront of technological developments and the increasing importance of big data is paramount, it is crucial to continue to invest and offer a large scale platform to clients and candidates."

In the first half of 2014, the company posted a pretax profit of GBP1.6 million, up from GBP1.2 million a year earlier, as revenue rose to GBP73.0 million, from GBP56.2 million. At that time it expressed confidence for "further success" in its second half.

InterQuest's board is being advised by CHILDS Advisory Partners and Charles Stanley Securities.

Shares in InterQuest are trading up 6.4% at 117.00 pence Tuesday morning.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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