UK recruitment firm Hydrogen Group provided a trading update for the six months ended 30 June 2018. Net fee income for the period totalled more than £14.5 million. This would be an increase of 54.2% when compared to the same period last year.

Hydrogen Group stated that trading has been robust across the group underpinned by the performance of its Legal and Business Transformation practices in EMEA, and by its APAC operations in Singapore and Thailand.

“As a result, we are pleased to confirm that the group has continued to trade well, and the Board remains confident of its growth prospects for the current financial year and beyond,” the group stated.

“The Board believes that following the successful acquisition and integration of Argyll Scott, the group has established a scalable platform for organic growth that can be supplemented by selective acquisitions to accelerate the group's development,” Hydrogen Group stated. “The Board has developed strict criteria that it will apply to any potential acquisition relating to the strategic, financial, operational, and cultural fit.”

The Board also announced that it has appointed Whitman Howard as joint Corporate Broker alongside Shore Capital with immediate effect.

Hydrogen Group will announce its interim results on 18 September 2018.

As of last trade Hydrogen Group traded at £36.80, up 6.67% on the day and 3.16% below its 52-week high of £38.00, set on 30 April 2018. Based on its current share price the company has a market value of £11.89 million.