InterQuest Group's reception in Cannon Green, clover pattern on the wall in light oak

InterQuest Group PLC - Singapore Office Launched

Pubished 21st November 2011

Singapore Office Launched and First Contracts Secured

InterQuest Group plc (AIM: ITQ), the specialist IT Recruitment Group, is pleased to provide an update on the progress being made at its Singapore office, which is the Company’s first non-UK division.

Following several months of exploratory research and in response to demand from financial services customers in particular, in September 2011 the Board began the process of expansion into the Asian markets, initially via Singapore. Good progress has been achieved since that time, with the appointment of an experienced Managing Director, the hiring of seven sales executives and the formal opening of the office.

We are delighted to report that the first permanent placements have already been secured, including at a leading Application Software business delivering Wealth Management trading systems. As anticipated, the margins of the business placed thus far are higher than those typically seen in the UK. These contracts have been secured earlier than previously anticipated and are strongly supportive of the Board’s decision to expand into this growth area.

Gary Ashworth, Executive Chairman of InterQuest commented, “We have been very encouraged by the initial success of our first international office. With the support of our customers, we believe this new office has the potential to stimulate additional profitable growth for InterQuest adding to the robust performance of our UK operation.”

For further information please contact:

InterQuest Group plcThreadneedle CommunicationsfinnCap
020 7025 0100020 7653 9850020 7600 1658
Gary Ashworth, Executive ChairmanCaroline Evans-JonesMarc Young
Michael Joyce, Finance DirectorFiona ConroyCharlotte Stranner

About InterQuest

The InterQuest Group is a specialist IT recruitment Group providing contract and permanent recruitment services within niche disciplines in the UK and Europe. The Group comprises eleven separately branded specialist divisions covering demand for key skill sets including; Java, SAP, CRM Testing, Infrastructure, Analytics and Telecommunications and demand in key industry sectors including; Banking and Financial Services, Insurance, Legal, Media, Public Sector, Not-for-Profit and Retail. In addition the Group has majority shareholdings in four further specialist businesses within the IQ Equity division.