News blog

Dillistone Group

BY: Andrew Hore |
POSTED: 02/02/2012 |
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Recruitment and executive search software provider Dillistone Group says that 2011 trading was in line with expectations thanks to larger orders from bigger customers.

Demand has declined from the smaller customers but benefits are starting to show through from the integration of the Voyager acquisition.

Edison forecasts 2011 revenues of £5.2m and a profit of £1.3m. The dividend will be maintained at 3.2p a share.

Edison has reduced its capex forecast and combined with the lower cost of the Voyager acquisition due to additional cash that came with the company this means that there should be cash of £1.6m at the end of 2011.

A full contribution from Voyager should enable 2012 revenues to rise to £8m. A profit of £1.6m is forecast.

At 72.5p a share, Dillistone is valued at £13.2m. The shares are trading on a 2012 prospective multiple of 12.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJanuary2012_28.pdf