Dillistone Group PLC AGM Statement (0543B)
June 14 2016 - 1:00AM
UK Regulatory
TIDMDSG
RNS Number : 0543B
Dillistone Group PLC
14 June 2016
14 June 2016
Dillistone Group Plc
("Dillistone" or the "Group")
AGM Trading Update
At the Annual General Meeting of Dillistone Group Plc, the AIM
quoted supplier of software to the recruitment industry, being held
at 10:30 am today, Mike Love, Chairman of Dillistone, will make the
following trading statement:
"In our Preliminary announcement in April, I noted the increase
in new business orders in Q1 2016 in both divisions compared to the
same period in 2015. Additionally, I referenced our ongoing
investment in building the business to ensure that it remains
competitive. I also mentioned that a growing proportion of business
is on a recurring basis, which is positive longer term but has less
impact on short term realised revenues as revenue recognition is
over a longer period.
"At the time of the Preliminary announcement, we explained that
Dillistone Systems had enjoyed a 70% increase in year on year new
business orders. I am pleased to announce that this growth has
continued and, indeed, accelerated, with orders up by more than
100% by the end of May when compared to the previous year. We
announced last week that May also saw us implement over 800
licences within the month - believed to be a record for the
Division.
"Our Voyager Software division is also seeing new business
orders continuing to be significantly ahead of the same period in
2015. This division offers several products and performance varies
across the range, but a combination of improved orders, a strong
pipeline of new business orders, and our ongoing investment in
product development gives us great hope for the remainder of the
year.
"Despite our excellent performance in the market, the Group has
noted a softening of the economic environment over recent weeks.
While we continue to win new contracts, it is apparent that many
recruitment firms are not currently hiring additional staff,
resulting in a reduction in the normal flow of incoming licence
orders from existing clients. We would hope that with the Brexit
vote imminent this will prove to be a short term phenomenon.
"Nevertheless, we are pleased to confirm that the Group
currently remains confident of delivering growth in revenue and
pre-tax profit and meeting expectations for the full year. We
reiterate our belief that the second half of 2016 will be better
than the first half. The first half of the year is likely to show
revenue growth when compared to the same period in 2015, but a
slightly lower level of pre-tax profit, reflecting increased costs
and depreciation. However, it is expected to show improvement over
the second half of 2015.
"In light of these points, the Board is optimistic for the
future."
Enquiries:
Dillistone Group
Plc
Mike Love Chairman 020 7749 6100
Jason Starr Chief Executive 020 7749 6100
Julie Pomeroy Finance Director 020 7749 6100
WH Ireland Limited (Nominated
adviser)
Head of Corporate
Chris Fielding Finance 020 7220 1650
Walbrook PR
Tom Cooper /
Paul Vann 0117 985 8989
0797 122 1972
tom.cooper@walbrookpr.com
Notes to Editors:
Dillistone Group Plc (www.dillistonegroup.com) is a leader in
the supply and support of software and services to the recruitment
industry. It has four trading businesses operating through two
divisions: Dillistone Systems, which targets the executive search
industry (www.dillistone.com); and Voyager Software, which targets
other recruitment markets (www.voyagersoftware.com).
Dillistone has made three acquisitions: Voyager Software in
September 2011, FCP Internet in July 2013 and ISV Software in
September 2014. The Group operates under the FileFinder, Infinity,
Evolve and ISV brands.
Dillistone was admitted to AIM, a market operated by the London
Stock Exchange plc, in June 2006. The Group employs over 100 people
globally with offices in London (head office) Basingstoke and
Southampton, Frankfurt, New Jersey and Sydney.
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGMSFEFIDFMSEIM
(END) Dow Jones Newswires
June 14, 2016 02:00 ET (06:00 GMT)