Trading Update

RNS Number : 1196N

Dillistone Group PLC

28 January 2021

 

Dillistone Group Plc

("Dillistone" or the "Group")

Trading Update

Dillistone Group Plc, the AIM quoted supplier of software for recruiters, provides a trading update for the 12 months ended 31 December 2020.

The disruption caused by the Covid-19 pandemic has had a significant impact on the recruitment industry and, therefore, on our revenue in the year.  Despite that, the Board expects the pre-tax loss to be in line with, or better than, the prior year position before acquisition related items and other one-off adjustments. 

This has been achieved partly as a result of the extensive restructuring undertaken in 2019 which allowed the Group to enter this period of turmoil with a significantly more efficient operating structure than in previous years.  We have also taken advantage of UK Government support including Furlough payments.

Despite continued tight cost control, the business has continued to invest in its range of products which it sees as fundamental to the future success of the Group.

Today, the business is announcing its innovative new Talentis product ( https://www.talentis.global/recruitment-software/insights/ ), which takes advantage of the latest in big data and artificial intelligence technology to deliver a transformational recruitment platform.  In addition, the business is currently rolling out its upgraded 'FileFinder SaaS' platform which offers speed improvements to clients and cost savings to the Group, and enhancements to our Infinity product designed to help the Group take further advantage of the anticyclical market for temporary staff.

The Pandemic has had a significant impact on the recruitment industry, with many recruiters downsizing or simply closing down.  However, the sector is also typically one of the first to recover and the Board believes that the product enhancements delivered over recent months will put the business in a good position to enjoy long term growth as economies do rebound.

As at 22 January 2021 the Group had £1.5m in cash and at this point does not expect to need to raise additional funds.  

Webinar to introduce Talentis and the Talentis TalentGraph: Wednesday 3 February at 12.30pm

A webinar for investors will be held at 12.30pm on Wednesday 3 February 2021.  To request a place, please register at  https://attendee.gotowebinar.com/register/5546126178909630475

Enquiries:

Dillistone Group Plc		Via Walbrook PR
Jason Starr	Chief Executive
Julie Pomeroy	Finance Director
WH Ireland Limited (Nominated adviser)
Chris Fielding	Managing Director, Corporate Finance	020 7220 1650
Walbrook PR
Tom Cooper / Nick Rome		020 7933 8780
		[e-mail]

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 brand.

The Group develops, markets and supports the Talentis, FileFinder, Infinity, Midoffice, ISV and GatedTalent products.

Dillistone was admitted to AIM, a market operated by the London Stock Exchange plc, in June 2006.  The Group employs around 90 people globally with offices in Basingstoke, Southampton, New Jersey and Sydney.

 

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