Impellam Group full year trading to be 'in line with expectations'
Impellam is pleased to announce that full year trading will be in line with expectations with strong performance in the UK Specialist Staffing and Managed Services businesses, and the turnaround in performance of Carlisle Support Services offsetting under performance in North America.
Net debt at year end was £15m, as a result of improved working capital management which offset the cash outflows for the acquisition of Career Teachers and Lorien in the year.
The integration of the two acquisitions has proceeded to plan and both businesses have performed in line with expectations.
The final dividend to be recommended will be announced in the Company's preliminary statement which is expected at the beginning of March.
Julia Robertson, CEO, commented, "The implementation of our strategy, laid out in our 2013 Annual Report, continues to go well and the repositioning of the business into Managed Services and Specialist Staffing is complete. We are delighted to have made two important acquisitions this year which have strengthened our Specialist Staffing portfolio and will enable us to increase our share of the spend running through our Managed Services programmes, in particular in our re-branded Global business, Guidant. The turnaround of Carlisle Support Services has been well executed and has enabled the Board to consider strategic options for the business."