AGM Statement

RNS Number : 2781R

Matchtech Group PLC

16 November 2012

 



AGM Statement

Matchtech Group PLC



16 November 2012

Matchtech Group plc

AGM Trading Update

George Materna, Chairman of Matchtech, will deliver the following Trading Update at the Group's Annual General Meeting at noon today:

"Since we reported our Preliminary Results for the year ended 31 July 2012 on 4 October 2012 the Group has continued to perform in line with the Board's expectations, with Net Fee Income (NFI) for the quarter (Q1) to 31 October 2012 of £9.5 million, at similar levels to the last quarter (Q4) and up 10% compared with the same period in the previous financial year.

Contract NFI was £6.7m, up 16% on the same period last financial year, with contractors on assignment at 31 October 2012 up 2% on 31 July 2012. Permanent fees in Q1 were £2.8m, at similar levels to the same period last financial year and the last quarter.

Skill shortages are driving unprecedented demand for contract staff in our markets and our diversification strategy is broadening our client base and allowing us to take market share.

With our high quality staff and robust business model, we are positioned well for continued growth by supplying global clients working on large, multi-year infrastructure projects in the UK and overseas.

We look forward with confidence to the year ahead."

For further information please contact:

Matchtech Group plc                              01489 898 989

Adrian Gunn, Chief Executive Officer

Tony Dyer, Chief Financial Officer

MHP Communications                            020 3128 8100

John Olsen / Ian Payne / Giles Robinson

Numis Securities Limited                        020 7260 1000

Michael Meade / James Serjeant

 

END

 

 

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