Hydrogen Group PLC Trading Statement and Notice of Results (4105U)

TIDMHYDG

RNS Number : 4105U

Hydrogen Group PLC

18 January 2017

Hydrogen Group plc

("Hydrogen" or the "Group")

Trading Update for the year ended 31 December 2016 and Notice of Results

Hydrogen (AIM: HYDG) announces the following trading update in respect of the year to 31 December 2016.

The Board expects to report net fee income ("NFI") for the year of c.GBP17.8m and a return to profitability generating a PBT of c.GBP0.75m as a result of the Group's strategy and a renewed focus on building market leading niches within the Group.

The Group's balance sheet remains strong with net cash expected to be GBP2.0m (2015: GBP2.6m) with the reduction in cash primarily due to an increase in trade debtors. The business has a strong contractor base, a diversified client base internationally and is well positioned to take advantage of opportunities in 2017.

Notice of Results

The Group will announce its final results for the year ended 31 December 2016, on 4 April 2017.

Enquiries:

 
Hydrogen Group plc                   020 7090 7702 
Ian Temple, CEO 
 Stephen Puckett, Chairman 
 
  Shore Capital (NOMAD and Broker)     020 7468 7904 
Bidhi Bhoma 
 Edward Mansfield 
 

Notes to Editors:

Hydrogen is a global specialist recruitment business with an annual turnover of over GBP100m. We build market leading businesses by providing solution for our clients by finding specialist candidates our clients have difficulty sourcing, placing exceptional, hard to find professionals in countries across the world, on both a contract and permanent basis. Our joined-up practice teams combine international reach with local expertise and specialist knowledge, to provide visibility of world class candidates.

http://www.hydrogengroup.com

This information is provided by RNS

The company news service from the London Stock Exchange

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January 18, 2017 02:00 ET (07:00 GMT)