Recruitment firm Hydrogen Group had a strong end to the year offsetting weak trading after the summer.
Trading returned to expected levels in the last few weeks of 2012. Net fee income is forecast to grow by 5% of £31.4m in 2012 due to an increase in permanent placements. The share of net fee income from overseas businesses increased from 36% to 40%. The fastest growing sector was technical and scientific.
Hydrogen has invested in an updated IT system.
At 86p a share, up 2.5p, Hydrogen is valued at £20.3m. The shares are trading on nine times broker Allenby’s forecast 2012 earnings.
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