UK recruitment firm Hydrogen Group provided a trading update for the six months ended 30 June 2019. Net fee income for the period totalled more than £15 million, an increase compared to last year’s reported approximately £14.5 million net fee income.

The group said it has continued to trade in line with management's expectations.

As noted at the Annual General Meeting on 23 May 2019, the group's performance in the year to date has been impacted by weaker trading conditions in certain of its APAC businesses and by Brexit related uncertainty dampening demand in the UK.  

Conversely, the group reported that its US operations continue to trade strongly.  

“This geographic diversity of global operations is enabling the group to continue to grow and gives management confidence in its prospects for 2019 and beyond,” Hydrogen Group stated.

“The Board is continuing to review acquisition opportunities, applying the strict assessment criteria that it has developed relating to strategic, financial, operational, and cultural fit,” the company stated.

Hydrogen Group will provide a further update at the time of its interim results which will be announced Tuesday 17 September 2019.