Trading Update

 

TIDMOPD 
 
RNS Number : 5735V 
OPD Group PLC 
13 July 2009 
 

OPD Group PLC 
                                          13 July 2009 
 
 Trading Update 
OPD, the recruitment services group, today announces a trading update covering 
the period from 1 January 2009 to 30 June 2009. 
As stated in the Company's Interim Management Statement published on 15 May 
2009, net fee income declined by 25 per cent for the first four months of this 
year. For May and June the net fee income was down 30 per cent on May and June 
2008 and for the first six months of the year aggregate net fee income was down 
28 per cent compared to the comparative period for 2008. 
Trading conditions remain very challenging, the Group continues to reduce 
costs with headcount 
falling by 110 since the beginning of the year to 640. 
The one off costs associated with reducing 
 headcount are expected to give 
rise to an operating loss for the first six months of the year; 
In the Interim Management Statement, the Company commented that the Board may 
need to seek additional funding through an equity issue which could be material 
in the context of the Company's current equity valuation. This course of action 
is currently under consideration, together with an alternative strategy of 
raising additional funding through the disposal of; part of the equity in its 
operating subsidiaries to their management teams. 
The Group's results for the six months ended 30 June 2009 will be announced in 
late August. 
 
 
 For further information contact: 
 
 Francesca 
Robinson, Chief Executive 
Ian Moss, Finance Director 
OPD Group plc Tel: 0207 
970 9700 
 
 Patrick Robb 
InvestecTel: 0207 597 5169 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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