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7 Jun 2011 10:28
Parity Group PLC
07 June 2011
Parity Group plc
AGM Trading Update
At the Annual General Meeting of Parity Group plc held today Philip Swinstead, Chairman, made the following statement:
"It has been a busy time for our group since CEO, Paul Davies, and I rejoined the Board last June. Following a major restructuring and cost saving programme last year, we completed a £7m Firm Placing, Placing and Open Offer in May which provided both additional working capital and created the necessary funding for us to embark on three new initiatives in the Talent Management, Emerging Technology and Cloud/Business Intelligence areas.
"Overall, trading in the first half has stabilised after a difficult 2010, and is in line with market expectations. Public spending remains relatively quiet, although there has been growth outside this area in our Resources business.
"Looking ahead is difficult in an uncertain economy, although we are optimistic that our new initiatives will provide platforms for future growth."
Ends
For further information, please contact:
Parity Group plc +44 (0) 845 873 6942
Paul Davies, Chief Executive
Singer Capital Markets +44 (0) 20 3205 7500
Jeff Keating
MHP Communications +44 (0) 20 3128 8100
John Olsen / Ian Payne
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