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UK – Parity trading in line with expectations

20 May 2013

Specialist technology staffing company Parity Group (PTY:LSE) said the company has returned to revenue growth in the year to date with the firm reporting a steady improvement in profitability seen under new management.

It said that trading is in line with management expectations. The firm is currently being reorganised into two divisions: Parity Professionals, the Group's services in the professional staff selection, development and placement markets; and Parity Digital Solutions, its digital marketing services arm. This move is expected to reduce costs in the second half of 2013.

The recruiter is now moving away from certain slowing IT sectors and said that contractor numbers have been maintained despite seasonal project endings.

Parity also announced today that it has conditionally raised new capital to acquire firms in the digital marketing sector with the firm having now identified a shortlist of possible opportunities. Earlier this month, the company announced plans to cancel its current listing on the premium segment of the Official List and to apply for admission to trading of its ordinary shares on the AIM market, a sub-market of the London Stock Exchange for smaller companies.

According to Staffing Industry Analysts, Parity is amongst the top 50 staffing firms in the UK. The group specialises in technology staffing, the provision of information technology and business solutions.

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