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Dillistone Group Plc issued a trading update on 30 January 2024 for the 12 months ended 31 December 2023. The Group maintains investment in product development and has recurring revenues forecast to cover over 100% of administrative expenses. The Board expects to release its final results for the 2023 financial year by early May.
| Date | 30 Jan 2024 |
| Time | 07:00:06 |
| Category | Trading updates |
| ID | 2792B |
30 January 2024
Dillistone Group Plc
("Dillistone", the "Company" or the "Group")
Trading Update & Notice of Results
Dillistone Group Plc, the AIM quoted supplier of software and services for recruiters, provides a trading update for the 12 months ended 31 December 2023.
Trading Update:
The Board is pleased to report that it expects its 2023 results to show continuing progress in its turnaround, with profit measures in line with expectations. This is expected to result in a first adjusted operating profit since 2018 and a significant improvement in EBITDA.
In its Interim Results announcement released on 26 September 2023, the Board noted the challenging economic conditions, which had worsened in Q2. Since then, conditions have deteriorated further, as demonstrated by a number of recent announcements made by recruiters about trading conditions in Q4.
Nevertheless, due to the investments made in internal systems and technology, the Group can now react rapidly to changes in demand. The Board is therefore pleased to note that the return to profitability is expected to be delivered while the Group continues to maintain investment in product development. As a result, the Board is confident that, when the recruitment sector does return to growth, the Group's products will be well positioned to take advantage.
The Group today enjoys recurring revenues forecast to cover over 100% of administrative expenses, so providing a strong base for the future and giving the Board confidence in its ability to deliver further progress in 2024.
Notice of Results:
The Board expects to release final results for the 12 months to 31 December 2023 by early May.
Contacts:
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Dillistone Group Plc |
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Via Walbrook PR |
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Jason Starr |
Chief Executive |
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Ian Mackin |
Finance Director |
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WH Ireland Limited (Nominated adviser) |
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Chris Fielding |
Head of Corporate Finance |
020 7220 1650 |
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Walbrook PR |
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Tom Cooper / Nick Rome |
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020 7933 8780 |
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This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
The person responsible for arranging the release of this announcement on behalf of the Company is Ian Mackin, Finance Director of the Company.
Notes to Editors:
Dillistone Group Plc is a leader in the supply and support of software and services to the recruitment industry. Dillistone operates through the Ikiru People (www.IkiruPeople.com) brand.
The Group develops, markets and supports the Talentis, FileFinder, Infinity, Mid-Office, ISV and GatedTalent products.
Dillistone was admitted to AIM, a market operated by the London Stock Exchange plc, in June 2006.
Learn about our products:
Talentis Software: https://www.talentis.global/recruitment-software/
Voyager Software: https://www.voyagersoftware.com
GatedTalent Executive Jobs: https://www.talentis.global/all-jobs