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UK – Dillistone finds growth in UK and US

24 September 2013

The UK-based supplier of recruitment software, Dillistone Group PLC (DSG: LSE) reported revenue of £3.8 million for the six months ending 30 June 2013, an increase of +6% from £3.6 million a year ago. Gross profit for the period increased by +0.6% from £3.2 million during H1 2012 to £3.4 million during H1 2013.

Net profit for the period was £645,000, up +21.7% from £530,000 last year. The Group delivered its highest ever H1 sales with £2.52 million, an increase of +6% above its previous record.  

Commenting on the results, Mike Love, Non-Executive Chairman, said: “These are an encouraging set of results. We have delivered good revenue growth in both of our divisions in the first half of the year, and have entered the second half with a strong pipeline. Our results in the second half will be augmented by the acquisition of FCP Internet, completed in early July, which is expected to be immediately earning enhancing.” 

Geographically, the business obtains the majority of its revenue from the UK, Middle East, and Africa (UKMEA). This region reported revenue of £2.3 million, an increase of +15% from £2 million last year. The America’s was the only other region to report revenue growth, rising by +3.9% to £674,000 from £649,000 last year. 

Revenue from Europe fell -4.7% from £494,000 during H1 2012 to £471,000 this year. Asia-Pacific reported the biggest fall with -10.4%, from £427,000 to £383,000, year-on-year.

Looking forward, Mike Love continued: “Good sales growth and visibility across the business, supported by the earnings enhancing acquisition of FCP Internet, gives the Board confidence that the Group will make further progress in the remainder of the year. The Board expects to make further progress in the second half of the year.” 

In trading today, the company’s share price fell by -1.5% to £0.96, an increase of +50.4% compared with a year ago. Based on its current share price, the company has a market value of £17.48 million. 

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