Dillistone Group PLC AGM Statement (0543B)

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 
                                          [e-mail] 
 

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

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June 14, 2016 02:00 ET (06:00 GMT)