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LONDON (Alliance News) - Dillistone Group PLC Wednesday reported a fall in pretax profit in the first half of 2015, despite a rise in revenue, as it booked costs associated with investments it is making, and warned that profit will continue to decline in the full year.
Shares in Dillistone were trading down 11% at 97.00 pence Wednesday morning following the announcement.
The service provider to the recruitment sector reported a fall in pretax profit in the six months ended June 30 to GBP566,000 from GBP646,000 in the first half of 2014, even though revenue improved to GBP4.7 million from GBP4.2 million.
It said that while revenue benefited from the acquisition of UK recruitment, testing and training specialist ISV Software in 2014, depreciation and amortisation costs, including acquisition intangibles, led to the decrease in profit.
Dillistone warned that that while group revenue will continue to grow, profit will continue fall in 2015 because of the investments it is making in the business.
Dillistone will pay an interim dividend of 1.35 pence, a 4% increase on the 1.30p it paid the prior year.
"We continue to invest in our products, services and infrastructure across the group. These investments are expected to deliver long-term shareholder benefits and strengthen Dillistone's position in its chosen markets," Chairman Mike Love said in a statement.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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