Trading Statement (3493Y)
February 29 2012 - 3:25AM
UK Regulatory
TIDMNAK
RNS Number : 3493Y
Nakama Group Plc
29 February 2012
29 February 2012
Nakama Group plc (AIM: NAK)
("Nakama" or "the Group")
The AIM quoted recruitment consultancy and leading niche
provider of technology, business and professional services to the
insurance and financial services sectors and recruitment for the
digital technology and interactive media industry
Pre-close Trading Statement
Following the acquisition of Nakama Limited by Nakama plc
(formerly Highams Systems Services plc) in October of last year,
the Board expect the Group to start the new financial year well
placed for fast and profitable growth in its niche markets in
Europe, Asia and Australia. The back office integration of the
existing businesses will be completed shortly and the Group intends
to expand its network of offices, and also develop its existing
operations. Nakama will expand its coverage of the Asian markets
immediately with a new office and will use the Group's existing
infrastructure to grow Highams/Nakama.
As part of this expansion strategy, the Group is:
0 Opening an office in Singapore to address the Digital/New
Media sector in South East Asia
0 Opening an Executive Search operation targeted at senior
management appointments in the Digital/New Media sector in the UK
and Europe
0 Currently increasing headcount with a graduate scheme in
London and Caterham
The Board took the decision to absorb the costs of the deal
instead of raising further funds at the time of the Nakama
acquisition and also to take immediate action to invest in the
growth of the business. In addition, whilst the numbers of
permanent vacancies where the Group is instructed has shown a
significant increase recently, candidates are showing greater
caution in moving to new employers in the current environment. The
costs of the recent investment in the business, combined with lower
volumes than previously anticipated in permanent placements at the
end of 2011 and the beginning of 2012, means that the outcome for
the current financial year, whilst likely to show a substantial
profit, is likely to fall significantly short of market
expectations.
Demand for staff in both the digital media sector and the IT for
insurance sector have strengthened significantly since the
beginning of February and contractor/temp numbers are rising
steadily. Further locations are being considered in the Middle East
and Asia. Consequently the Board believes that the prospects for
the Group for the next financial year are encouraging.
Enquiries:
Stefan Ciecierski -CEO 020 3170 8202
Seymour Pierce Limited Tel: 020 7107 8000
Guy Peters, Corporate Finance
Jacqui Briscoe, Corporate Broking
This information is provided by RNS
The company news service from the London Stock Exchange
END
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