Dillistone Group Plc
(“Dillistone”, the “Company” or the “Group”)
Final Results

Dillistone Group Plc, the AIM quoted supplier of recruitment software for the international recruitment industry through its Dillistone Systems and Voyager Software divisions, is pleased to announce its final audited results for the 12 months ended 31 December 2014.

Highlights for the year:

§ Revenues up 6% to £8.6m
§ Record level of recurring revenues of £5.9m, up 12% from 2013
§ Adjusted operating profits1 up 1% to £1.82m
§ Adjusted EBITDA2 up 7% to £2.4m
§ Adjusted pre-tax profits3 up 1% to £1.82m
§ Profit for the year down 7% to £1.15m
§ Adjusted earnings per share4 up 7% to 8.56p
§ Final dividend of 2.7p per share recommended, making total dividend for the year of 4p (a yield of 3.7% on a share price of 107p) (2013: 3.85p)
§ Cash funds of £1.9m (2013: £1.4m) after acquisition related payments of £1.3m offset by £1.0m placing proceeds.  Bank borrowings total of £0.5m (2013: nil)
§ ISV Software acquisition completed in October 2014
Commenting on the results, Mike Love, Non-Executive Chairman, said:

“The Group has enjoyed another successful year in 2014, delivering its best ever performance in terms of revenue, adjusted operating profit and adjusted EPS.  The business continued to invest, delivering a major new product launch in the Dillistone Systems division, while successfully completing the integration of FCP Internet into the Voyager Software division, and in September 2014 announcing the acquisition of ISV Software.

“This represents our 3rd successive year on year increase in the dividend, in line with our progressive dividend policy, which illustrates the Board’s confidence in the future prospects of the Group.”

 

1Adjusted operating profit is statutory operating profit before acquisition costs, related intangible amortisation, movements in contingent consideration and other one-off costs relating to acquisitions.

2 Adjusted EBITDA is adjusted operating profit with depreciation and amortisation added back.

3 Adjusted pre-tax profits is statutory pre-tax profits before acquisition costs, related intangible amortisation, movements in contingent consideration and other one-off costs relating to acquisitions.

4. Adjusted earnings per share is computed from statutory profits after tax adjusted to exclude the post-tax effect of acquisition costs, related intangible amortisation, movements in contingent consideration and other one-off costs relating to acquisitions.

 

Results Webinar – Jason Starr, Chief Executive, and Julie Pomeroy, Finance Director, will be hosting a webinar to review the results of 2014 at 1pm today.  To register please visit www.dillistonegroup.com/ir.aspx or contact Tom Cooper on tom.cooper@walbrookpr.com or 0797 122 1972.

Annual Report and Accounts – The final results announcement can be downloaded from the Company’s website (www.dillistonegroup.com).  Copies of the Annual Report and Accounts (in addition to the notice of the Annual General Meeting) will be sent to shareholders by 22 May 2015 for approval at the Annual General Meeting to be held on 18 June 2015.

Enquiries:

Notes to Editors:

Dillistone Group Plc (www.dillistonegroup.com) is a leader in the supply and support of software and services to the recruitment industry. It has four trading businesses operating through two divisions: Dillistone Systems, which targets the executive search industry (www.dillistone.com); and Voyager Software, which targets other recruitment markets (www.voyagersoftware.com).

Dillistone has made three acquisitions: Voyager Software in September 2011, FCP Internet in July 2013 and ISV Software in September 2014.  The Group operates under the FileFinder, Infinity, Evolve and ISV brands.

Dillistone was admitted to AIM, a market operated by the London Stock Exchange plc, in June 2006.  The Group employs over 100 people globally with offices in London (head office) Basingstoke and Southampton, Frankfurt, New Jersey and Sydney.