Hydrogen reaping rewards from investment in Asia and US
The 28% NFI growth (at constant currency) in Singapore over the last year demonstrated particular success in the region.
Hydrogen reviewed its business earlier this year after a period of sustained investment in a range of international and practice opportunities. In line with the strategy to maintain a balanced business, whilst delivering increased profitability, the Group is now firmly focused on clients, practices and geographies where it knows it can deliver profit growth. Throughout the review, Hydrogen has continued to invest in the business development team, to widen and deepen relationships with strategically important clients. An office has opened in Kuala Lumpur, Malaysia to support business growth in Asia and headcount added to the Houston office, which has made encouraging progress since Hydrogen opened in the US in April 2013.
Looking forward, the Group will invest selectively in headcount in its core areas to support key clients and profitable opportunities.
The interim dividend was maintained at 1.5p.
Commenting, Tim Smeaton, CEO of Hydrogen Group plc said: “We are seeing a return on our investment in key areas such as Asia and the US. In line with Hydrogen’s strategy of maintaining a balanced business, we will continue to focus on the areas of greatest opportunity, hiring into our core practices and supporting our strategic client development. With a strong client pipeline, the Board is confident of ongoing business profitability and the Group is on target to meet its expectations for the year.”