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15 Nov 2013 07:00
AGM Statement
Matchtech Group PLC
15 November 2013
Matchtech Group plc
AGM Trading Update
George Materna, Chairman of Matchtech Group plc, will deliver the following trading update at the Group's Annual General Meeting to be held at noon today:
"Since we reported our Preliminary Results for the year ended 31 July 2013 on 15 October 2013 the Group has continued to perform in line with the Board's expectations.
"As the UK economy moves further into recovery mode, demand for contract recruitment continues to grow and we are seeing the first signs of permanent candidate confidence returning.
"For the first quarter to 31 October 2013, Net Fee Income (NFI) of £11.1m was up 13% on the same period in the previous financial year on a like for like basis*, with contract NFI of £8.0m up 14% and permanent fees of £3.1m up 11%.
"We look forward with confidence to the year ahead."
(*i.e., assuming NFI from Provanis, acquired on 6 September 2013, had been included within the 2012 comparator).
For further information please contact:
Matchtech Group plc 01489 898 989
Adrian Gunn, Chief Executive Officer
Tony Dyer, Chief Financial Officer
MHP Communications 020 3128 8100
John Olsen / Giles Robinson
Numis Securities Limited 020 7260 1000
Michael Meade / James Serjeant
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