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Gary Ashworth, Executive Chairman of IT staffing specialist InterQuest Group plc (AIM: ITQ.L) made the following statement regarding trading in the year to date at the company's annual general meeting:
"We are pleased with the level of trading in the first five months of the year. We have seen an increase in the number of recruitment requirements from clients, especially from the Financial Services sector, and are generally enjoying an increased level of activity in line with our expectations."
"In our core businesses only (excluding the contractors working for the new businesses launched last year) the number of contractors working onsite at clients today is 7% higher than the highest number reported in Quarter 4 of 2009."
"The increased levels of fee income from permanent recruitment that we experienced in Quarter 4 of 2009 (40% higher than the average of the first three quarters of 2009) have been maintained in 2010."
"Additionally, we are pleased that the new businesses launched during 2009 under our IQ Equity banner have all made good progress to date in 2010 and are trading in line with market expectations."
"To ensure that we have the capacity to capitalise on a return of growth in the recruitment sector, this month saw the launch of our new in-house training programme for trainee recruitment consultants, iQad. Headed by Company Director, Alan Found, the programme is a phased approach giving trainees practical experience alongside classroom training and coaching. It is our experience that the best performing sales consultants are those trained in-house and we are delighted to have accepted our first 12 trainees into the programme."
"Whilst there are many signs of renewed activity in our markets, with IT remaining a vital part of the fabric of modern business, visibility of future activity has not yet fully returned to previous levels. However, the growth we have experienced thus far in 2010 means that we are confident of a successful outcome to the year."