Trading Update & Notice of Results

Dillistone Group Plc, the AIM quoted supplier of software and services for recruiters, provides a trading update for the 12 months ended 31 December 2023.

Trading Update:

The Board is pleased to report that it expects its 2023 results to show continuing progress in its turnaround, with profit measures in line with expectations. This is expected to result in a first adjusted operating profit since 2018 and a significant improvement in EBITDA.

In its Interim Results announcement released on 26 September 2023, the Board noted the challenging economic conditions, which had worsened in Q2. Since then, conditions have deteriorated further, as demonstrated by a number of recent announcements made by recruiters about trading conditions in Q4.

Nevertheless, due to the investments made in internal systems and technology, the Group can now react rapidly to changes in demand. The Board is therefore pleased to note that the return to profitability is expected to be delivered while the Group continues to maintain investment in product development. As a result, the Board is confident that, when the recruitment sector does return to growth, the Group's products will be well positioned to take advantage.

The Group today enjoys recurring revenues forecast to cover over 100% of administrative expenses, so providing a strong base for the future and giving the Board confidence in its ability to deliver further progress in 2024.

Notice of Results:

The Board expects to release final results for the 12 months to 31 December 2023 by early May.

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