News Column

Dillistone Still Expecting Interim Revenue Growth But Lower Profit

June 11, 2014

Rowena Harris-Doughty

LONDON (Alliance News) - Dillistone Group PLC Wednesday said it continues to expect revenue in the first half of 2014 to be ahead of last year, but is expecting a lower interim pretax profit than in 2013.

In a statement to shareholders ahead of the company's annual general meeting, the AIM-quoted supplier of software to the recruitment industry said it remains confident of making further progress in all of 2014.

In a statement at the end of April, Dillistone warned that, while it was expecting its revenues in the first half of 2014 to beat the same period in 2013, its pretax profit would be behind, as it bolstered its management team and increases amortisation of its product development.

The company said its largest division, Dillistone Systems, has continued to sign up new clients, particularly subscription-model contracts, but said the contracts will provide revenue growth only over the longer term, rather than boosting its first half results.

Dillistone said its Voyager division has seen as mixed performance across its product range, with new contract wins including both subscription and outright purchase contracts.

Dillistone shares were down 2.4% at 103.03 pence Wednesday morning.

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Source: Alliance News

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