InterQuest Group PLC Trading update (3861C)
27 June 2016 - 11:53PM
UK Regulatory
TIDMITQ
RNS Number : 3861C
InterQuest Group PLC
27 June 2016
27 June 2016
InterQuest Group plc
("InterQuest" or "the Company")
Trading update
InterQuest Group plc (AIM: ITQ.L), the specialist recruiter in
the technology, analytics and digital market today announces the
following trading update ahead of its interim results for the six
months to 30 June 2016 which will be announced on 6 September
2016.
In light of the uncertainty in the run up to the EU referendum,
the Company has experienced variable trading with clients delaying
hiring decisions. The result of the referendum is now expected to
prolong this period of uncertainty and, whilst it is too early to
predict the longer term impact, the Company expects trading
conditions in the wider recruitment sector to remain challenging
for at least the remainder of the current financial year. The
Company is somewhat protected from wider recruitment trends due to
its focus on hard to find niche candidates in rapidly growing
sectors in the new digital economy, but as a result of the wider
market conditions, the Company now expects that Group net fee
income and EBIT for the current financial year will be materially
below market expectations.
Gary Ashworth, Non-Executive Chairman commented:
"Whilst I am delighted with the initiatives put in place by the
new management team, and subsequent client wins, the months leading
up to the EU referendum have been challenging and market
uncertainty is now expected to continue following the outcome of
the referendum. Operationally the Company is in good shape but at
this current time forecasting the impact of political and market
developments is challenging and the management team have made a
cautious assessment of the circumstances."
Enquiries:
InterQuest Group Plc
David Bygrave (CFO) Tel: +44 (0) 20 7025 0100
Panmure Gordon (UK) Limited (Nomad and Broker)
Karri Vuori or Dominic Morley Tel: +44 (0) 20 7886 2500
This information is provided by RNS
The company news service from the London Stock Exchange
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