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Hydrogen Group plc announces its interim results

Hydrogen Group plc UNAUDITED CONDENSED CONSOLIDATED INTERIM REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2010
The Board of Hydrogen Group Plc ("Hydrogen" or "the Group") is pleased to announce its unaudited interim results for the six months ended 30 June 2010.
PROFITABLE GROWTH ACROSS ALL MARKETS
Financial Highlights

Group net fee income ('NFI') increased by 67% to 13.2m (2009: 7.9m)
Adjusted profit before tax of 1.1m (2009: 0.0m)
International NFI grew by 213% to 4.7m (2009: 1.5m) and now represents 35% of the Group's NFI (2009: 19%)
Days of sales outstanding (DSOs) have seen a slight reduction to 31 (2009: 32)
Interim dividend of 1.4p per share (2009: 0.5p)
Adjusted earnings per share of 3.4p (2009: 0.0p)
Purchase of 0.5m of shares by EBT

Operational Highlights

NFI from permanent placements increased 110% to 7.5m (2009: 3.6m)

Contractors working for clients increased by 68%, since 30 June 2009, to over 1,000 (30 June 2009: over 600)
Sydney office grew NFI 240% to 1.6m (2009: 0.5m)
First Asian office opened in Singapore

Engineering, our newest sector, grew NFI 129% to 1.7m (2009: 0.8m)
Headcount increased by 22% to 307 employees (December 2009: 252)

Commenting, Ian Temple, Executive Chairman of Hydrogen Group plc said:
'We are pleased that the decisions and actions we took in 2009 to position the company to benefit from improved trading conditions have proved successful. The Group grew NFI organically by 67% overall and internationally by 213% during the first half of 2010. We continue to seek to maximise on the investments made to select carefully further opportunities for potential future growth.'

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