Last checked at 29 May 2012 07:00
29 May 2012
Dillistone Group Plc
("Dillistone" or the "Group")
Trading Statement
At the Annual General Meeting of Dillistone which is being held today at 11am, Mike Love, Chairman of Dillistone, will make the following trading statement:
"Although the economic environment remains turbulent, the Group has continued to make good progress so far in 2012.
"Dillistone Systems, our executive search systems business, has signed contracts with a number of corporate clients, including organisations in industries as diverse as the power industry, financial services, the technology sector and academia. These include a further FTSE100 client. Dillistone Systems is also currently working on a number of larger than average projects with both potential and current executive search firm clients.
"Our Voyager Software division, which provides recruitment systems and was acquired in September of 2011, is currently preparing for the launch of its next generation platform, Infinity, which is expected to occur in the second half of the year. Although this is a major step forward for the division, a conservative approach to the role out is likely, with the full benefit of the next generation product being seen from 2013 onwards.
"The Group continues to be cash generative and debt free. Annualised recurrent income, enhanced by the acquisition of Voyager Software is expected to be in excess of £4m, providing the Group with increased visibility. At this stage, the Board is confident that it will continue to make good progress in 2012."
Contacts:
Dillistone Group Plc | |||
Mike Love | Chairman | 020 7749 6100 | |
Jason Starr | Chief Executive | 020 7749 6100 | |
Julie Pomeroy | Finance Director | 020 7749 6100 | |
WH Ireland Limited (Nominated adviser) | |||
Chris Fielding | Head of Corporate Finance | 020 7220 1650 | |
Winningtons | |||
Tom Cooper / Paul Vann | 020 3176 4722 | ||
0797 122 1972 | |||
Notes to Editors:
Dillistone Group Plc (www.dillistonegroup.com) is a leader in the supply and support of recruitment software. It has two main trading businesses: Dillistone Systems, which targets the executive search industry (www.dillistone.com) and Voyager Software which targets other recruitment markets (www.voyage.co.uk). Dillistone was admitted to AIM, a market operated by the London Stock Exchange plc, in June 2006.