Parity Group PLC Trading Update (0205Z)
2022年1月20日 - 4:00PM
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RNS Number : 0205Z
Parity Group PLC
20 January 2022
Parity Group plc
("Parity" or the "Company")
Trading update
Parity, the data and technology-focussed recruitment and
professional services company, is pleased to provide an update on
trading for the financial year ending 31 December 2021 ("FY
2021").
Following a change in management in June 2021 and the decision
to refocus the business around its core recruitment solutions
capability, the Group is pleased to confirm it has met or
marginally exceeded market expectations for FY2021.
-- Group revenue is anticipated to be slightly ahead of the GBP47.6m target.
-- Net Fee Income ("NFI") in line with expectations of GBP4.1m
-- The Group anticipates a modest Adjusted EBITDA profit, instead of an expected small loss.
-- Through improvements in working capital management the Group
closed the year with an improved Net debt (pre-IFRS16 adjusted)
position of GBP1.2m, ahead of market expectations.
Over the last 3-6 months Parity has taken steps to flatten the
management structure of the Group and refocus resources from
non-core activities into its core recruitment solutions business.
The result is a material increase in customer-facing headcount that
has begun to make an impact, improving customer engagement and
performance.
Having rebalanced the core team to meet existing customer
demands, Parity plans to focus its investment in 2022 on extending
its sales and marketing capacity to drive innovative recruitment
solutions to meet the growing demand for highly skilled resources
across data, technology and change management.
Mark Braund, Executive Chairman, said:
"I am pleased we have achieved the financial expectations reset
earlier in the year and am delighted the team has rapidly and
successfully rebuilt the core recruitment capability within Parity,
providing the platform for driving the recovery in value and
performance of the business.
Through the operational leadership of Izzy (Isobel) Brown and
CFO, Mike Johns, Parity has achieved a rapid and positive change in
the culture, motivation and performance of the team. In doing so
they have established a solid foundation from which we now take on
the next challenge, that of growth, by delivering innovative
higher-value solutions that help our customers secure in-demand
talent.
We have more to do, however the achievements so far position us
well for the year ahead."
-ENDS-
Contacts
Parity Group PLC www.parity.net
Mar k Braund, Executive Chairman + 44 (0) 20 8171 1729
Mike Johns, CFO
finnCap Ltd https://www.finncap.com/
Jonny Franklin-Adams / Simon Hicks /
Fergus Sullivan/ +44 (0) 20 7220 0500
Tim Redfern / Charlotte Sutcliffe
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END
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