Business
Half Yearly Report
Half Yearly Report.
About this update from Gattaca Plc
[{"type":"text","content":"\n \nRNS Number : 0510C Matchtech Group PLC 11 April 2013 \n \n\n11 April 2013\nMatchtech Group plc\nHalf year financial report for the six months ended 31 January 2013\n \nMatchtech Group plc (the \"Group\"), one of the UK's leading specialist engineering and professional services recruitment companies, today announces its unaudited results for the six months ended 31 January 2013. \n \nFinancial Headlines\n\n\n\n\n\n\n\nH1 2013\n\n\nH1 2012\n\n\n% Change\n\n\n\n\nRevenue\n\n\n£197.3m\n\n\n£176.7m\n\n\n+12%\n\n\n\n\nNet Fee Income (NFI)1\n\n\n£18.5m\n\n\n£17.2m\n\n\n+8%\n\n\n\n\nContract NFI\n\n\n£13.2m\n\n\n£11.6m\n\n\n+14%\n\n\n\n\nPermanent recruitment fees2\n\n\n£5.3m\n\n\n£5.2m\n\n\n+2%\n\n\n\n\nUnderlying profit from operations3\n\n\n£4.8m\n\n\n£3.4m\n\n\n+41%\n\n\n\n\nProfit from operations\n\n\n£4.4m\n\n\n£3.4m\n\n\n+29%\n\n\n\n\nProfit before tax\n\n\n£4.0m\n\n\n£3.2m\n\n\n+25%\n\n\n\n\nBasic earnings per share\n\n\n12.65p\n\n\n9.53p\n\n\n+33%\n\n\n\n\nInterim dividend\n\n\n5.15p\n\n\n5.00p\n\n\n+3%\n\n\n\n\nNet debt4\n\n\n£8.0m\n\n\n£11.0m\n\n\n-27%\n\n\n\n\n \n1 NFI is calculated as revenue less contractor payroll costs\n2 Permanent recruitment fees excludes the discontinued operations of Executive Search and Financial Services of £nil (2012 H1 £0.4m)\n3 Underlying profit from operations is calculated before deducting non-recurring restructuring costs of £0.4m (2012 H1: £nil) \n4 As at end of period: 31 January \n \nOperational Highlights\n· Increase in underlying H1 NFI conversion to 25.9% from 19.8% in 2012 H1 reflects the benefit of the developing brands and efficiencies within our cost base\n· Strong demand for contractors across most of our specialist sectors, with contractors on placement at 31 January 2013 up 5% to 6,700 (31 January 2012: 6,400; 31 July 2012: 6,700) \n· Underlying permanent fee income remained stable\n· Major contract extension with BAE Systems (via Xchanging) and contract win with UK Power Networks announced on 14 March\n· Major contract e...