16 Jan 2015 07:00
16 January 2015
Impellam Group plc
("Impellam" or the "Company")
Pre-Close Trading Update
Impellam is pleased to announce that full year trading will be in line with expectations with strong performance in the UK Specialist Staffing and Managed Services businesses, and the turnaround in performance of Carlisle Support Services offsetting under performance in North America.
Net debt at year end was £15m, as a result of improved working capital management which offset the cash outflows for the acquisition of Career Teachers and Lorien in the year.
The integration of the two acquisitions has proceeded to plan and both businesses have performed in line with expectations.
The final dividend to be recommended will be announced in the Company's preliminary statement which is expected at the beginning of March.
Julia Robertson, CEO, commented:
"The implementation of our strategy, laid out in our 2013 Annual Report, continues to go well and the repositioning of the business into Managed Services and Specialist Staffing is complete. We are delighted to have made two important acquisitions this year which have strengthened our Specialist Staffing portfolio and will enable us to increase our share of the spend running through our Managed Services programmes, in particular in our re-branded Global business, Guidant. The turnaround of Carlisle Support Services has been well executed and has enabled the Board to consider strategic options for the business"
For further information please contact:
Impellam Group plc
Julia Robertson, Chief Executive Tel: 01582 692658
Cenkos Securities plc (Nominated Advisor and Broker to Impellam)
Nicholas Wells Tel: 020 7397 8900
Note to Editors:
Impellam Group plc, traded on the AIM (Symbol: IPEL) is the 2nd largest staffing business in the UK, 12th worldwide and is a leading provider of managed services and specialist staffing expertise across the UK, North America, Asia Pacific and mainland Europe. We place over 73,500 skilled people into work each week across a wide range of industries and provide candidates with fulfilling jobs at all levels, including doctors, lawyers, accountants, nurses, teachers, scientists, receptionists, drivers, chefs, administrators, engineers, web developers, IT consultants, cleaners, security guards, and manufacturing and warehouse operatives. We employ over 2,700 managers and consultants - throughout our network of 19 market-leading brands - across 234 international offices.