Trading Update from Dillistone Group Plc

Dillistone Group Plc
Trading Update & Results Date

The Board of Dillistone Group Plc (“Dillistone” or the “Group”), the AIM quoted supplier of software for the international recruitment industry through its Dillistone Systems and Voyager Software divisions, is pleased to provide a trading update for the 12 months ended 31 December 2014.

At the time of announcing our Interim results in September 2014, we stated that: “A prudent approach to new product roll-outs, to ensure a high standard of client care, will see us limit the number of implementations that we will complete over the next few months and, as a result, we anticipate that our performance in 2014 will be similar to that delivered in 2013.”  

We are delighted to say that our launch of FileFinder Anywhere has proven to be successful and that our expectations for the full year (pre acquisition related items) will be similar to that delivered in 2013.

Since our Interim results announcement in September, we have enjoyed a number of trading successes across both divisions.

The Dillistone Systems division has seen a notable improvement in incoming orders since the launch of FileFinder Anywhere in September 2014.  

Divisional successes since then include:

• Total order intake in Q4 of 2014 was more than 20% up on both Q4 of 2013 and on the average of Q1-Q3 2014.
• We won more new business contracts in December 2014 than any single month in the last 2 years.
• Contract wins included our largest single North American contract win since 2009 and a number of clients switching from competing products.

As a result, Dillistone Systems enters 2015 with an implementation pipeline which is approximately 20% up on the equivalent date in 2014.  This pipeline has been further supplemented in January 2015 by the award of the largest mainland European new business contract that the Division has won since 2007. 

Our Voyager Software division also enjoyed strong orders in the final quarter with successes including:

• For Voyager Software, Q4 was the best single quarter for new business sales since 2007.
• FCP Internet, acquired in 2013, is likely to report its highest ever FY revenue resulting from its highest ever user base.
• ISV, acquired in October 2014, making a small contribution to the year as expected.

Mike Love, Chairman of Dillistone Group, commented:  

“We had a really positive end to 2014 and are confident that the Group now has a highly competitive range of products across the key markets it serves.  The Group remains profitable and cash generative and we continue to follow a progressive dividend policy, subject to the needs of the business.”

Dillistone expects to announce its preliminary results for the year to 31 December 2014 in the week beginning 20 April 2015.

Notes to Editors: 

Dillistone Group Plc (www.dillistonegroup.com) is a leader in the supply and support of software and services to the recruitment industry. It has four trading businesses operating through two divisions: Dillistone Systems, which targets the executive search industry (www.dillistone.com); and Voyager Software, which targets other recruitment markets (www.voyagersoftware.com).

Dillistone has made three acquisitions: Voyager Software in September 2011, FCP Internet in July 2013 and ISV Software in September 2014.  The Group operates under the FileFinder, Infinity, Evolve and ISV brands. 

Dillistone was admitted to AIM, a market operated by the London Stock Exchange plc, in June 2006.  The Group employs over 100 people globally with offices in London (head office) Basingstoke and Southampton, Frankfurt, New Jersey and Sydney.