RNS Number : 2595A
Matchtech Group PLC
31 July 2008
Matchtech Group PLC
31 July 2008
Matchtech Group plc
Pre-Close Trading Update
Matchtech Group plc ("Matchtech" or the "Group"), one of the UK's leaders in
specialist technical recruitment, is pleased to provide a trading update for the
year ending 31 July 2008. Matchtech plans to release its Preliminary Results for
the year ending 31 July 2008 on Tuesday 14 October 2008.
The Board is pleased with the Group's performance for the year, which shows good
growth across each of its three operating sectors: Engineering, Built
Environment and Support Services. Net Fee Income for the year is estimated to
be 23% ahead of the same period last year.
Increase in Net Fee Income versus same period in prior year:
*Actual Estimated Estimated
2008 H1 2008 H2 2008
Engineering + 22% + 24% +23%
Built Environment + 27% + 23% +25%
Support Services + 14% + 27% + 21%
Group +22% + 24% +23%
*Note: Excludes the United States subsidiary sold on 31st August 2006.
Demand for both contract and permanent staff has remained strong throughout the
year and the business mix has remained broadly the same, with contract
recruitment estimated to represent 68% of Net Fee Income (2007: 69%).
The Group continues to focus on operating costs and to benefit from its single
site operating model. The Board is confident that the results for the full year
will be at the upper end of its expectations.
George Materna, Chairman of Matchtech, commented: "I am pleased to report that
the Group has maintained the strong first half performance throughout the second
half of the year. We are still seeing encouraging demand for staff across a
broad range of clients and sectors and the limited pool of skilled resource that
is available has ensured that rates have been maintained."
For further information please contact:
Matchtech Group plc 01489 898989
George Materna, Chairman
Adrian Gunn, Group Managing Director
Tony Dyer, Group Finance Director
Hogarth Partnership 020 7357 9477
John Olsen / Ian Payne
Arbuthnot Securities 020 7012 2000
Mark Brown / Richard Tulloch
Background on Matchtech
Established in 1984, Matchtech specialises in the provision of contract and
permanent staff and has grown organically to become one of the UK's leading
technical and engineering recruitment specialists.
Operating from a single site near Southampton, Matchtech provides predominantly
professionally-qualified candidates to a broad range of clients across the UK in
the Engineering, Built Environment and Support Services sectors.
Matchtech has recently achieved certification to BS25999, the new standard for
Business Continuity Management Systems to add to its existing ISO 9001:2000
(Quality), ISO 14001:2004 (Environmental) and ISO 18001:2007 (Health & Safety)
This trading update is prepared for and addressed only to the Group's
shareholders as a whole and to no other person. The Group, its directors,
employees, agents or advisers do not accept or assume responsibility to any
other person to whom this trading update is shown or into whose hands it may
come and any such responsibility or liability is expressly disclaimed.
Statements contained in this trading update are based on the knowledge and
information available to the Group's Directors at the date it was prepared and
therefore the facts stated and views expressed may change after that date. By
their nature, the statements concerning the risks and uncertainties facing the
Group in this trading update involve uncertainty since future events and
circumstances can cause results and developments to differ materially from those
anticipated. To the extent that this trading update contains any statement
dealing with any time after the date of its preparation such statement is merely
predictive and speculative as it relates to events and circumstances which are
yet to occur. The Group undertakes no obligation to update these forward-looking
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