REG-Matchtech Group PLC Pre-Close Trading Update

Released : 31/07/08 06:01

http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20080731:Rnse2595A
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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) 
standards.  
  
Cautionary Statement  
  
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 
statements.  
  
 
This information is provided by RNS  
  
The company news service from the London Stock Exchange  
  
  END  
  
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