Dillistone Group (DSG: LSE), the UK-based supplier of recruitment software for the recruitment industry, announced a brief trading update today.

The company said it anticipates group revenue will grow more quickly due to a boost from its GatedTalent platform, a service for recruiters to engage with senior-level executives.

In October, GatedTalent added 7,000 new members, an increase of 30% compared with September sign-ups, the company said.

"Our ability to monetise our executive membership should help accelerate growth in revenues within the GatedTalent platform and this should have an impact on profitability," Dillistone Chief Executive Jason Starr said.

“Previously, all revenue through the platform has come from recruiters and, while core services will remain free for executives, the ability to generate revenues from enhanced membership services will enable the group to deliver faster revenue growth,” Dillistone stated.

Dillistone is expected to generate revenue of £9.3 million pounds in 2018, according to analyst's estimate provided by FactSet.

As of last trade, Dillistone Group traded at £52.00, up 8.33% on the day and 10.64% above the 52 week low of £47.00 set on 29 October 2018. Based on its current share price the company has a market value of £9.44 million.