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The Board of The ReThink Group Plc (RTG:LSE), the recruitment and technology services businesses, has reported on trading for the year ended 31 December 2009.
In the Chairman's Statement accompanying the interim results for the six months ended 30 June 2009, the Chairman stated that the shortfall in year-on-year results in the first half of 2009 would be recovered later in the year and expressed the view that the Board expected the pre-tax profits after exceptional items to be ahead of that in 2008.
The Board announces that it expects profit before tax to be in the order of 300,000 Pounds, which is ahead of consensus market expectations. The company experienced a positive recovery in the second half 2009 primarily due to the strong performance by its permanent recruitment division and the recruitment process outsourcing division, ReThink Professional Services Limited.
The current year has started well with the number of contractors on assignment ahead of management expectations and continued positive demand for permanent recruitment services. Accordingly, although it is early in the year, the Board is optimistic about revenue growth for the remainder of the year.
The Company will report its preliminary results for the year ended 31 December 2009 in early April 2010.
After the announcement ReThink's shares were unchanged at 8.50 Pence.