Hydrogen Group PLC Trading Update and Notice of Interim Results (8006U)
July 17 2018 - 2:00AM
UK Regulatory
TIDMHYDG
RNS Number : 8006U
Hydrogen Group PLC
17 July 2018
Hydrogen Group plc ("Hydrogen", the "Group")
Trading Update, Appointment of Joint Corporate Broker
and
Notice of Interim results
Hydrogen Group, the global specialist recruitment group, is
pleased to provide the following update on trading for the six
months ended 30 June 2018.
As noted at the Group's Annual General Meeting on 25 May 2018
the Group's performance in the year to date has been encouraging.
Net fee income for the period totalled more than GBP14.5m. The
Group's balance sheet has continued to strengthen with net cash at
30 June amounting to GBP1.3m.
Trading has been robust across the Group underpinned
particularly by the performance of our Legal and Business
Transformation practices in EMEA, and by our operations in
Singapore and Thailand in APAC.
As a result, we are pleased to confirm that the Group has
continued to trade well, and the Board remains confident of its
growth prospects for the current financial year and beyond.
We have continued to invest in our people and have made two
significant additions to our global leadership team in the USA and
Australia giving us confidence that we should be able to deliver
significant growth in these markets moving forward.
The Board believes that following the successful acquisition and
integration of Argyll Scott, the Group has established a scalable
platform for organic growth that can be supplemented by selective
acquisitions to accelerate the Group's development. The Board has
developed strict criteria that it will apply to any potential
acquisition relating to the strategic, financial, operational, and
cultural fit.
At the time of our final results for the year ended 31 December
2017 we announced our plan to resume the payment of a dividend. The
dividend was duly paid on 5 July 2018. The Board now intends to
implement a progressive dividend policy and will review future
dividends in light of the performance of the business.
Appointment of Joint Corporate Broker
The Board is pleased to announce that it has appointed Whitman
Howard with immediate effect as joint Corporate Broker alongside
Shore Capital.
Notice of results
The Board looks forward to providing a further update at the
time of the Interim Results, which will be announced on Tuesday 18
September 2018.
Enquiries:
Hydrogen Group plc 020 7090 7702
Ian Temple CEO
John Hunter, COO & CFO
Shore Capital (NOMAD and Joint Broker) 020 7408 4090
Edward Mansfield / James Thomas
Whitman Howard Limited (Joint Broker) 020 7659 1234
Hugh Rich
Notes to Editors:
Hydrogen Group's mission is to empower people's careers whilst
powering businesses by providing their key people from a proven
global platform with clients' in over 50 countries. We deliver by
building market leading specialist teams that develop a deep
understanding of candidate and clients' needs and developing
solutions.
http://www.hydrogengroup.com
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END
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