AGM Statement

RNS Number : 3441H

Impellam Group plc

19 June 2013

 

IMPELLAM GROUP PLC

Annual General Meeting - Trading update 19^th June 2013

Impellam Group plc ("Impellam" or "the Group") will issue the following trading update at today's Annual General Meeting.

"Trading in the first five months of 2013 has been broadly in line with the Board's expectations.  Our United Kingdom and North America Staffing businesses are both reporting increased activity and growth in net fee income, year over year.  Our North America business returned to year on year net fee income growth in Q2 of 2012 and we expect the United Kingdom business to report similar growth in Q2 this year.  Both businesses are also reporting increases in EBITDA when compared to prior year periods as a result of both net fee income growth and improvements in efficiency.

However, our Medacs Healthcare business is seeing challenging market conditions with volumes and net fee income under pressure.  We are also seeing increased costs associated with both enhanced compliance requirements and in the sourcing of the required medical professionals for the demand available.  We therefore expect to see both net fee income and EBITDA compression in the first half. 

Our Carlisle Support Services business is also continuing to see little or no recovery in demand in the retail market.  In addition, costs associated with the mobilisation of recent contract wins are depressing gross margin percentages compared to prior periods.

However, there will be no repeat of the prior year restructuring charges.

Accordingly, in the first half of the year, unadjusted earnings per share are expected to be broadly flat compared to the prior year."   

Impellam expects to publish trading results for the 26 weeks to 28^th June 2013 on 25^th July 2013.

Enquiries: For further information please contact the appropriate individual below.

Impellam Group plc

Andrew Wilson                                                                                Tel: [phone]

Julia Roberton                                                                                  Tel: [phone]

Andrew Burchall                                                                              Tel: [phone]

Cenkos Securities plc

(Nominated Advisor and Broker to Impellam)

Nicholas Wells                                                                                  Tel: [phone]

Elizabeth Bowman

Note to Editors:

Impellam Group plc conducts business primarily in the UK and North America, with smaller operations in Australia, Ireland, New Zealand and mainland Europe. The Group employs nearly 6,000 people, including 2,200 managers and consultants and more than 3,500 support services workers, across a network of 230 branch and regional offices. The Group operates more than 15 specialty brands across a broad range of staffing sectors which are complemented by businesses in the outsourced support services sector. Impellam Group is ranked 19th on the Staffing Industry Analysts' 2012 Top Global Staffing Companies List.

 

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