ITQ8 Sep 2015 08:07
Very nice indeed:
InterQuest Group plc
("InterQuest" or "the Group")
Interim Results
InterQuest Group plc (AIM: ITQ), the specialist recruitment business operating in high growth areas in the 'new digital economy', is pleased to announce its unaudited interim results for the six months ended 30 June 2015.
Financial highlights
§ Adjusted EBITA* on a constant currency basis up 17% to £2.8m (2014: £2.4m)
§ Adjusted EBITA* up 13% to £2.7m (2014: £2.4m)
§ Adjusted PBT* up 14% to £2.5m (2014: £2.2m)
§ Profit for the period increased by 33% to £1.6m (2014: £1.2m)
§ Net Fee Income ("NFI") up 6% to £12.1m (2014: £11.4m)
§ Improved EBITA / NFI ratio of 22.2% up 110-bps from 21.1% in 2014
§ Revenue up 11% to £81.2m (2014: £73.0m)
§ Diluted adjusted earnings per share up 20% to 5.5 pence (2014: 4.6 pence)
§ Basic earnings per share up 47% to 4.7 pence (2014: 3.2 pence)
§ Basic adjusted earnings per share up 16% to 5.7 pence (2014: 4.9 pence)
§ Net cash generated from operating activities £2.8m (2014: £3.4m)
§ Net debt, consisting of our working capital facility, which we use to finance fluctuations in contractor levels, and cash was reduced during the period to £6.9m (2014: £7.1m)
§ Interim dividend doubled to 1.0 pence per share to be paid on 16 November 2015
*Adjusted for share based payment charge, amortisation and non-recurring items
Operational highlights
§ Continued organic growth and improved profitability across the Group demonstrating the success of the strategy implemented at the beginning of 2013
§ The Group continues to strengthen its market position in important niche segments servicing the growing demand for high-value skills in the new digital economy
§ Winning three new managed service customers and significantly expanding the relationship with two others including the recently announced Dixons Carphone agreement, which provides evidence of the Group's ability to capitalise on incremental value add services
Chief Executive Officer, Mark Braund, commented: "We are delighted with the strong results delivered during the first half of 2015, building on the foundations put in place at InterQuest over the last three years. Our focus on specialist disciplines in key niche recruitment sectors providing some of the market's most in-demand skill sets, augmented by a growing managed service capability is delivering significant benefits to the Group and its clients. InterQuest operates at the leading edge of the analytics and digital technology revolution in areas that are enjoying significant structural growth which leads to increased demand for our specialist services. As a result, InterQuest is well positioned to deliver further growth during the remainder of 2015 and into 2016. Our results and market position a