RNS Announcements
Trading Update
The ReThink Group plc
("ReThink" or the "Company")
Trading Update
The Board of The ReThink Group plc, one of the UK's fastest growing recruitment and technology services businesses, is pleased to report on trading for the year ended 31 December 2009. The Company will report its preliminary results for the year ended 31 December 2009 in early April 2010.
In the Chairman's Statement accompanying the interim results for the six months ended 30 June 2009, the Chairman stated that the shortfall in year-on-year results in the first half of 2009 would be recovered later in the year and expressed the view that the Board expected the pre-tax profits after exceptional items to be ahead of that in 2008. The Board is pleased to announce that it expects the profit before tax to be in the order of £300,000, which is ahead of consensus market expectations. The Company experienced a positive recovery in the second half primarily due to the strong performance by its permanent recruitment division and the recruitment process outsourcing division, ReThink Professional Services Limited.
The current year has started well with the number of contractors on assignment ahead of management expectations and continued positive demand for permanent recruitment services. Accordingly, although it is early in the year, the Board is optimistic about revenue growth for the remainder of the year.
Senior Management appointment
The Board is delighted to announce that Stefan Ciecierski has been appointed as Regional Director of the London Operations of ReThink Recruitment Solutions Limited. Stefan has 25 years experience, having been part of the founding team of PSD Group plc (until recently known as OPD) in 1993 where he managed their Technology and International businesses, before taking up roles as CEO at Accord in Central and Eastern Europe and most recently CEO Europe at Aquent the global design and digital recruitment services group where he worked for 7 years.
ENQUIRIES;
The ReThink Group plc | |
Jon Butterfield, Chief Executive Patrick Dundon, Finance Director | Tel: 07831 593 646 Tel: 0161 214 7452 |
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Merchant John East Securities Limited (Nominated Adviser and Joint Broker) | |
David Worlidge / Simon Clements | Tel: 020 7628 2200 |
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Rivington Street Ltd (Joint Broker) | |
Dru Edmonstone | Tel: 020 7562 3351 |
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1 February 2010
