InterQuest Group plc
Preliminary results for the year ended 31 December 2008
The Board of InterQuest Group plc is pleased to announce its audited preliminary results for the year ended 31 December 2008.
Revenue up 22% to 105.5m (2007: 86.8m)
Gross profit up 19% to 15.3m (2007: 12.9m)
EBITA (before IFRS 2 and amortisation charges) up 20% to 5.4m (2007: 4.5m)
Profit before taxation up 19% to 3.7m (2007: 3.1m)
Basic adjusted earnings per share up 15% to 12.7 pence (2007: 11.0 pence)
Basic earnings per share up 10% to 9.0 pence (2007: 8.2 pence)
Net cash from operating activities 4.9m (2007: 2.7m)
Net debt reduced from 9.3m at start of 2008 to 5.5m at 31 December 2008
Maiden dividend of 1 pence per share
Gary Ashworth, Executive Chairman, commented:
"In 2008 the Group has delivered continuing growth in revenue, gross profit, EBITA, profit before taxation and earnings per share. We have reported the best set of figures in our seven year history. Very importantly in these difficult times we have reduced our net debt quite substantially from 9.3m to 5.5m and strengthened our balance sheet for the future. We believe that this is a testament to our niche-focused specialist business model and the commitment of our people.
The current economic environment is uncertain, however, we believe that our specialist business model, strong bias towards contract recruitment and healthy balance sheet will stand us in good stead during 2009 and gives us a robust platform for future growth when the economy improves."