22 May 2014 07:00
22 May 2014
Hydrogen Group plc
AGM Statement and Trading Update
At today's Annual General Meeting of Hydrogen Group plc, the global specialist recruitment company, Ian Temple, Chairman, will make the following statement on trading during the year to date:
"We have seen increases in jobs and interviews this year across many areas of our business and the trend for the period has been one of steady improvement. That said, in some areas we have observed a delay in conversion to completed placements and we are yet to see an across-the-board uplift in Net Fee Income ("NFI"). It is therefore still too early to say with certainty when the different practices and regions will see sustained acceleration.
The Group has taken a number of actions to manage the cost base of the business in line with current levels of NFI, starting with restructuring at a senior level. The organisational structure is also being adjusted more generally to suit the current environment and to ensure that we can react more rapidly and efficiently where we see attractive opportunities.
The Board believes that the changes made during the period will more closely align costs with current levels of NFI, leading to improved likelihood of higher profits in the second half of the year. We remain confident that we are well positioned to capitalise on the investments made over the last few years."
Enquiries:
Hydrogen Group plc | 020 7002 0000 |
Ian Temple, Chairman Tim Smeaton, CEO John Glover, Finance Director
| |
Citigate Dewe Rogerson | 020 7638 9571 |
Michael Berkeley Caroline Merrell | |
Shore Capital (NOMAD and Broker) |
020 7408 4080 |
Bidhi Bhoma Edward Mansfield |
Notes to Editors:
Hydrogen is a global specialist recruitment business with a turnover in excess of £160m. We build relationships by finding specialist candidates our clients have difficulty sourcing, placing professionals in more than 75 countries.
Our joined-up practice teams combine international reach with local expertise and specialist knowledge, to provide visibility of world class candidates.
http://www.hydrogengroup.com