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.
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.
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.
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.
Our Latest News
Preliminary data reveals eurozone economy grew by 0.3% in Q2, with better-than-expected growth in France and Spain while some major members experienced contract...
Former Prime Minister David Cameron's involvement with Greensill Capital and the company's collapse prompts investigations and questions about his judgment.