Nakama Group Plc Trading Update (6412I)
June 20 2017 - 10:55AM
UK Regulatory
TIDMNAK
RNS Number : 6412I
Nakama Group Plc
20 June 2017
Nakama Group plc (AIM: NAK)
("Nakama" or "the Group")
TRADING UPDATE
The Board of Nakama Group plc expect to announce the annual
results for the year to 31 March 2017 in the first week of August
2017. The Directors expect revenue to be in the region of GBP22.5m
(2016: GBP21.0m) with a similar increase in Net Fee Income.
At the time of the release of the interim results on 1 December
2016 the Board of Directors had expected a stronger second half to
the year, however the progression within the UK, Singapore and
Melbourne businesses was slower than expected.
The Group experienced fluctuations in headcount during the first
half of the year which took longer than expected to correct and
this produced a knock on effect that led to a slower than
anticipated recovery during the second half of the year.
The businesses started to deliver a gradual upturn towards the
end of the financial year and the Australia and Hong Kong
businesses continued to trade strongly.
Market conditions have seen weaker trading in the contracting
market for the Group as a whole with margins being eroded as more
customers turn to a Recruitment Process Outsourcing "RPO" or
in-house solution. This has seen the businesses continue to focus
on core services but start to diversify their product and service
offerings in core markets.
The directors expect that for the year to 31 March 2017, EBITDA
will be below that of the previous year and there will be a small
loss before tax.
Trading in the first two months of the current financial year is
ahead of the same period last year.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Enquiries:
Nakama Group plc www.nakamaglobal.com
Rob Sheffield, CEO Tel: 0061 498 127 326
Angus Watson, CFO Tel: 01883 341 144
WH Ireland Limited
Paul Shackleton (NOMAD) Tel: 0207 220 1666
David Kilbourn (Broking)
Peckwater PR Tel: 07879 458 364
Tarquin Edwards tarquin.edwards@peckwaterpr.co.uk
NOTES TO EDITORS
About Nakama Group plc
Nakama Group plc is a recruitment group of two branded solutions
placing people into specialist and management positions;
-- Nakama operates in the digital, creative, media, marketing
and technology sectors all over the world from offices in the UK,
Asia and Australia and North America.
-- The Highams brand specialises in the Financial Services
sector, specifically Business Change and IT in Insurance and Wealth
Management currently in the UK and Europe.
Nakama Group plc was created in October 2011 through the
acquisition of Nakama Ltd UK and its subsidiaries in Hong Kong,
Sydney and Melbourne by AIM listed Highams Systems Services Group
plc.
Since forming in 2011, the Group has opened offices in Singapore
and New York for Digital, Creative, Media and Marketing.
Our aim is to offer all our services from both our brands in all
our locations.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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