Hydrogen Group, the UK-based specialist recruitment group, provided an update on trading today.

The Board reported in its Interim Statement that the group was trading well and had a strong pipeline of business moving into the fourth quarter of 2018.

The Board reported that trading has remained robust throughout the quarter, the group outperforming results from FY 2017. As a result, the Board now expects its profits for the full year to be ahead of current market expectations. Furthermore, the group's balance sheet has continued to strengthen as profit has been converted to net cash.

In its results for the first six months ended 30 June 2018, the group reported revenue of £68.6 million, an increase of 21% and up 22% in constant currency compared to the prior year.

As of last trade Hydrogen Group PLC traded at £55.25, up 11.62% on the day and 29.17% below its 52-week high of £78.00, set on 21 September 2018. Based on its current share price the company has a market value of £16.23 million.