Dillistone profits halve

25th Sep 2009 07:46

Dillistone Group saw profits halve for the interim period as the recruitment software supplier felt the full effects of the recession.The group however said having established some stability in the difficult market, it appears from recent orders that the group is likely to achieve its market expectations for the year, and is well positioned to take advantage of any upturn in global economic activity.Pre-tax profits fell to £471,461 from £948,577 in the same period last year on revenue that reduced 28% to £1.82m. The group pointed out operating profits, although lower than for the same period last year, exceeded those recorded in the second half of 2008.'The Group enjoys a high proportion of recurring income which has supported the lower level of new systems sales so far this year and we have been diligent about controlling our cost base to ensure that we continue to meet market expectations,' said chairman Jim McLaughlinInterim dividend was maintained at 3.5p per share.