Kellan Group Regulatory News (KLN)

25 Feb 2005 09:00

Berkeley Scott Group Plc25 February 2005 25 February 2005 Berkeley Scott Group plc Chairman's AGM Statement At the AGM to be held at 9.00am this morning, Jeremy Hamer, Chairman of BerkeleyScott Group plc will give the first trading update since the company's admissionto AIM on 3rd December 2004. ''In the 17 weeks ended 31st January 2005 the Net Fee Income of the group hasgrown to £2.83 million - up 13% compared with the same period last year, drivenby both the improving market environment and recent significant investment innew offices and additional fee earners. The group has increased the fee earning capacity within the business, and nowhas 124 fee earners in the group, 20 more people in this capacity than this timelast year. The group has also invested in new offices in Southampton and Glasgowin the last 7 months taking the total number of offices to 15. These investmentswill start to provide financial return in the second half and beyond. Our core markets continue to enjoy strong demand, reflected in the 25% increasein the number of permanent jobs being offered by us compared to 12 months ago,indicating that we are gaining market share. The number of candidates on ourdatabase has also increased ensuring that we will meet this demand. Outlook The group remains confident in the current full year's performance due tocontinued growth in demand for recruitment and HR services within thehospitality and leisure sector, BSG's increasingly important position in thismarket and the recent investment made in its people and new offices. Whilst the group has enjoyed strong year to date growth, this rate of growth islikely to slow temporarily pre half year end due to the effect of Easter,traditionally a quiet trading period, falling in March this year as opposed toApril last year. We therefore expect Net Fee Income growth to slow before theend of the first half and for the traditionally stronger second half to accountfor an even greater proportion of profits than in the previous year. Board Change Finally, as reported in our accounts, Rupert Bayfield steps down as anon-executive director today after nine years on the Board and I thank him forhis valuable contribution throughout that time. Discussions are well advanced ina search for a replacement non-executive director whom we hope to be able toannounce in the next few weeks." Enquiries: Berkeley Scott Group PlcRoddy Watt, Chief Executive 01483 414141 Cardew GroupTim Robertson 020 7930 0777 This information is provided by RNS The company news service from the London Stock Exchange