Parity (AIM:PTY), the London-based technology focused consultancy and staffing business, provided an update on trading for the six months ended 30 June 2018.

Parity reports that it has traded well and its performance is in line with group expectations in the period and is expected to deliver double digit growth in the group’s profit before tax from continuing operations compared to the same period in the prior year. In addition, the group said its tight cost controls and working capital management continues to provide a solid platform upon which to grow.

Alan Rommel, CEO, commented, “This robust first half performance combined with an encouraging sales pipeline from both existing and new customers, gives us confidence in achieving sustained organic growth, supported by our continued investment in new sales capability and our development of higher value services targeting the high growth data solutions markets.”

A further update will be provided within the half year results for the six months ended 30 June 2018, which are expected to be announced by mid-September.

As of last trade Parity Group traded at £13.90, up 6.51% on the day and 13.13% below its 52-week high of £16.00, set on 8 June 2018. Based on its current share price the company has a market value of £13.39 million.