Preliminary Results for the year ended 31 July 2007

Matchtech Group plc ("Matchtech" or the "Group"), one of the UK's leading specialist technical recruitment companies, is pleased to announce its maiden results for the year ended 31 July 2007, following its Admission to AIM in October 2006.

Financial Highlights

  • Turnover £202.8m (2006: £156.7m)*
up 29%
  • Net fee income £26.9m (2006: £20.8m)*
up 29%
  • Operating profit £11.3m (2006: £8.2m)*
up 38%
  • Profit before tax to £10.5m (2006: £7.7m)*
up 36%
  • Basic earnings per share of 36.02p (2006: 26.31p)*
up 37%
  • Reported PBT of £9.9m (£2006: 7.8m)
up 27%
  • Basic reported EPS of 33.47p (2006: 26.31p)
up 27%
  • Maiden final dividend of 9.3p per share making total of 13.7p per share for the year

* 2006 and 2007 results exclude the sales and profits from the US business sold on 31 August 2006 as well as the non-recurring costs of the IPO

Operating Highlights

  • Strong organic growth across all sectors
  • Results reflect continuing strong demand for permanent placements
  • 39% increase in permanent and 23% increase in contract recruitment fees
  • Placed over 2,100 candidates into permanent jobs and filled 6,300 contract/temp assignments in the year
  • Major Master Vendor contract secured with Mouchel Parkman
  • Successful Admission to AIM in October 2006

Commenting on the results, George Materna, Chairman of Matchtech said:

"Matchtech has continued to perform very well over the year and delivered another excellent set of results. These are our first full results since our listing on AIM in October 2006 and I am delighted that our new shareholders are able to share in the continuing success of the Group.

The outlook in our marketplace continues to be positive. Labour demand across all our sectors remains healthy and this looks set to continue for the foreseeable future. The shortage of good quality candidates and contractors and Matchtech's ability to identify and secure the right people for our clients are key factors in our success. This combination of confidence in UK businesses and shortages of qualified engineers and other white collar professionals should ensure continued buoyant recruitment conditions for Matchtech to capitalise on.

The Board anticipates another successful year for the Group."