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ITHR re-forecasts on increased levels of trading activity

ITHR re-forecasts on increased levels of trading activity

ITHR Group plc, one of the UK’s leading independent human capital resourcing and software solutions group have announced their interim unaudited results for the 6 months ended 30th September 2011.  Group turnover increased by some 28% for the half year to &pound15.49m, whilst gross operating margins remained broadly in line with the same period of last financial year.

Sean Gallagher, CEO commenting on the announcement said: “Our performance for the first 6 months of our financial year has exceeded all of our forecasts and expectations and have set us on track to substantially outperform our forecasted budget set out in April.  All areas of our businesses have again performed exceptionally well, both in the UK and Internationally with current trading activities still increasing strongly month on month. 

As a result we have reforecast our business plan and now expect our full year turnover to increase to c.&pound35.2m with gross margins and net profit growth to be in sync with last year’s levels, however rising in proportion with our increased turnover.

Cash flows remain equally strong and in these uncertain economic times it is good to know that we remain cash generative and are well and truly cash positive.”

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