Major Contract Award & GatedTalent Update

RNS Number : 6916N

Dillistone Group PLC

22 January 2019

 

Dillistone Group Plc

("Dillistone" or the "Group")

Major Contract Award and GatedTalent Update

The Board of Dillistone Group Plc, the AIM quoted supplier of software for the international recruitment industry, is pleased to announce that it has been awarded a three year contract renewal by a globally known recruitment organisation. This contract represents, by value, the largest in the history of the Group.

The Group's GatedTalent division has seen a continuing acceleration in revenue, since its announcement on 5 November 2018, as member services have come on line.  The Board is pleased to report that a larger proportion of Divisional revenue is subscription based than had previously been anticipated, increasing the Group's ability to deliver sustainable higher quality earnings.  While it still expects the Division to be loss making in 2019 as a whole, the Board now expects that the business will make a contribution and become cash generative in the final quarter of 2019. 

The Board anticipates issuing a pre-close trading update, ahead of its preliminary results for the year ended 31 December 2018, by late February 2019.

Commenting on the start to the year, Jason Starr, Chief Executive of Dillistone Group, said:

"We are pleased with progress across the Group late in 2018 and into this year, not only with the significant award but also by the progress at GatedTalent. Indeed, we have seen third party data which suggests that GatedTalent has overtaken the previous market leader, Bluesteps, in terms of website visitors and engagement. 

"The increasing conversion of GatedTalent from a platform generating revenue largely from recruiter transactions to one increasingly generating revenue from member subscriptions has proven highly successful. With member subscriptions growing rapidly, the platform is giving us increasing options in how we position our FileFinder executive recruiting CRMs."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquiries:

Dillistone Group Plc
Mike Love	Chairman			Via Walbrook PR
Jason Starr	Chief Executive
Julie Pomeroy	Finance Director
WH Ireland Limited (Nominated adviser)
Chris Fielding	Managing Director - Corporate Finance & COO CIB			020 7220 1650
Walbrook PR
Tom Cooper / Paul Vann				020 7933 8780
				0797 122 1972
				[e-mail]

Notes to Editors:

Dillistone Group Plc (www.dillistonegroup.com) is a leader in the supply and support of software and services to the recruitment industry. It has five brands operating through three divisions: Dillistone Systems, which targets the executive search industry (www.dillistone.com); Voyager Software, which targets other recruitment markets (www.voyagersoftware.com); and GatedTalent, the next generation executive recruitment platform (www.GatedTalent.com).

Dillistone has made three acquisitions: Voyager Software in September 2011, FCP Internet in July 2013 and ISV Software in September 2014.  The Group operates under the FileFinder, Infinity, Evolve, ISV and GatedTalent brands.

Dillistone was admitted to AIM, a market operated by the London Stock Exchange plc, in June 2006.  The Group employs over 100 people globally with offices in London (head office) Basingstoke and Southampton, Frankfurt, New Jersey and Sydney.

 

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