Dillistone Ups 2015 Dividend, Gives Positive Outlook For 2016

LONDON (Alliance News) – Recruitment software company Dillistone Group PLC Wednesday said it was upping its dividend for 2015, as investment led it to report a fall in profit for the year, and it gave a positive outlook for 2016.

The company reported a pretax profit of GBP1.1 million, down slightly from GBP1.3 million in 2014, as revenue rose to GBP9.4 million from GBP8.6 million was offset by higher administrative costs. Revenue growth included an 11% rise in recurring revenues, which made up 70% of total revenue for the year.

Dillistone said it has continued to invest in improving its products and services, which it had warned would reduce its profitability for 2015.

Looking ahead, it said it expects strong order growth will continue, and its results to date give it confidence that its results for the first half of 2016 will be improved year on year, and this trend will continue into the second half.

Dillistone proposed a final dividend of 2.75 pence, taking its total dividend for the year to 4.10 pence, up from 4.00 pence.

“The group has seen record levels of revenue and recurring revenue in 2015. It has continued to invest strongly in its businesses to ensure its clients remain at the forefront of technology, paving the way for continued success in future years,” said Non-Executive Chairman Mike Love in a statement.

“This represents our fourth successive year on year increase in the dividend, in line with our progressive dividend policy, illustrating the board’s confidence in the future prospects of the group, which has been reinforced by an excellent order book in the first quarter,” Love added.

Shares in Dillistone were up 11% at 89.00 pence Wednesday morning.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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