Dillistone Group Reports Narrowed Pretax Loss for H1 2021

Dillistone Group, a technology solutions and services provider to the recruitment industry, has reported a narrowed pretax loss for the first half of the year. The company achieved its first adjusted operating profit since 2018.

Financial Performance

During the six months ended June 30, Dillistone Group reported a pretax loss of £46,000 ($56,166), compared to a loss of £274,000 in the same period last year. Despite this, the company maintained stable revenue at £2.8 million.

Increase in Recurring Revenues

Of particular note, recurring revenues saw a 4% increase to £2.56 million. This marks the first half-year increase since 2017 and accounts for 91% of total revenues.

Adjusted Operating Profit

Dillistone Group also showcased its improved financial performance with an adjusted operating profit of £36,000, in contrast to a loss of £129,000 previously.

Positive Outlook

Despite current economic turbulence, Giles Fearnley, the nonexecutive Chairman of Dillistone Group, expressed confidence in the company's progress for the remainder of the year. The board anticipates delivering full-year profit results in line with market expectations.

Financial Stability

As of June 30, Dillistone Group had cash reserves of £249,000 and confirmed that no additional funding is required.

At 1006 GMT, shares were trading at 14.50 pence, representing a 7.4% increase of 1.0 pence.