Interim Management Statement

RNS Number : 5187D

Parity Group PLC

17 May 2012

 



Parity Group plc

Interim Management Statement

Parity Group plc, the UK IT services group, today issues its Interim Management Statement for the period from 1 January 2012 to the date of this announcement.

The Group remains on target to meet market expectations this year, albeit in a continuing difficult economic climate. Our performance continues to reflect the stabilization achieved last year.

Parity Resources continued to grow in the first months of the year, albeit with the normal seasonal dip at the end of March. There has been an encouraging increase in opportunities in the public sector after an extended period of decline in this part of the market.

Parity Talent Management has had an encouraging start to the year with a first contract win for its English university initiative and the extension of its Northern Ireland graduate training contract.

Parity Systems has been re-organised into three business streams in preparation for the Group's strategic re-orientation, focused on Defence, ORACLE and Microsoft applications. In a difficult market it has retained its important larger customers this year, and opened a new facility in Northern Ireland, including the new TechLab, which is already pursuing interesting product opportunities.

Following the stabilisation of the business last year, the Board is now looking to build on this much healthier base, and is fully focused on realising the new strategic initiatives and digital media ambitions outlined in previous statements.

For further information contact:

Philip Swinstead, Chairman Paul Davies, Chief Executive	Parity Group plc	0845 873 6942
John Olsen/Ian Payne	MHP Communications	020 3128 8100
Shaun Dobson	Singer Capital Markets	020 3205 7500

 

END

 

 

IMSLLFSREVIRLIF