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InterQuest Group Interim Results Announcement

InterQuest Group Interim Results Announcement

Interim Results

InterQuest Group plc (AIM: ITQ), the specialist IT Recruitment Group, is pleased to announce its unaudited interim results for the six months ended 30 June 2013.

The full report can be viewed in the Investor Documents section of the site here.

Financial highlights

Revenue up 0.7% to &pound56,231k (2012: &pound55,809k)

Net Fee Income (“NFI”) up 2.3% to &pound8,483k (2012: &pound8,289k)

Gross margin % improved from 14.9% to 15.1%

Permanent recruitment fees 4.5% higher at &pound2,872k (2012: &pound2,748k)

Improvement in contract recruitment margins from 11.5% in the first half of 2012 to12.1% in the first half of 2013

Adjusted EBITA* up 21% to &pound1,302k (2012: &pound1,072k)

Adjusted PBT* up 29% to &pound1,205k (2012: &pound932k)

Diluted adjusted earnings per share up 50% to 3.3 pence (2012: 2.2 pence)

Basic earnings per share up 142% to 2.9 pence (2012: 1.2 pence)

Net cash used in operating activities &pound0.5m (2012:&pound0.2m)

Net debt &pound5.7m (2012: &pound6.4m)

Interim dividend of 0.5 pence to be paid on 25 October 2013

Gary Ashworth commented “I am delighted to see evidence that the company’s re-focus on

niche sectors within the Group’s core technology market expertise has delivered increased

revenues and net fee income together with continued improvement in contract recruitment

margins and average placement fees. These improvements, together with increased

efficiencies in all of our business processes and systems which were consolidated and

streamlined last year, have combined to deliver better results in the first half of 2013 and we

look forward to building on this improvement during the remainder of the year and beyond.”


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