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Dillistone, the AIM quoted supplier of recruitment software, is pleased to announce its audited results for the year ended 31 December 2011.

Highlights for the year:

- Revenues up 28% to &pound5.4m with non-recurring revenues up 24%

- Record level of recurring revenues of &pound3.2m up 28% from 2010

- Underlying organic growth in revenues of 12%

- Operating profits before exceptional items up 17% to &pound1.4m and up 4% to &pound1.2m after exceptional items

- Final dividend of 2.3333p per share recommended, making total dividend for year of 3.5p

- Cash funds of &pound1.6m (2010: &pound2.1m) and the Group remains debt free

- EPS* pre-exceptional items up 22% to 6.26p and up 4% to 5.34p post exceptional items

- Acquisition of Voyager Software successfully completed

- Results of Voyager Software included from 21 September 2011

- Healthy growth in new clients: clients in more than 60 countries

- FileFinder 10 launched on 31 March 2011

*rebased following 2:1 bonus issue

Commenting on the results, Mike Love, Non-Executive Chairman, said: "2011 has been an excellent year for Dillistone. The Group has delivered a strong set of results, completed its first acquisition and launched its next generation executive search software."

He explained: "The Group's strategy is to continue to grow the business both organically and through acquisition. Our organic growth is supported by our commitment to product development, which ensures that the business continues to command a leading role in all of the market sectors in which it operates."

Jason Starr, Managing Director of Dillistone Systems, said: “This is an excellent set of results, the first released since the acquisition of Voyager Software in September 2011. Dillistone Systems continues to be the leading supplier to the executive search community, having implemented more systems, in more countries than any competitor. The addition of Voyager Software now means that our group has become one of Europe’s leading suppliers of specialist software to the third party recruitment industry.”


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