Trading Update 15.6.17 Amendment
Pubished 15th June 2017
The following replaces the announcement that was released on 15 June 2017 at 13:32 RNS Number 2213I. The reference to twice EBITDA should have read half EBITDA. All other information remains unchanged. The full amended text appears below.
15 June 2017
InterQuest Group plc
("InterQuest" or "the Company")
InterQuest Group plc (AIM: ITQ.L), the specialist recruiter in the technology, analytics and digital market today announces the following trading update ahead of its interim results for the six months to 30 June 2017.
The executive management team and Independent Director concur that the Company, whilst benefitting from solid sector fundamentals which underpin the business in the longer term, has been experiencing weaker trading in recent months, particularly in its core contractor market. Whilst it is still early, the Company recognises signs of potential challenges ahead in the political and trading environment resulting from BREXIT, the result of the UK election and the subsequent hung Parliament. The Company continues to restructure its business in order to focus on the future technology markets it services.
Mindful of these risks, together with the impact of one off costs on net debt levels, the Company considers that a more prudent policy on dividend payments is necessary and has agreed that dividends will only be declared in circumstances where net debt levels are below half EBITDA. This amended policy does not affect the dividend previously announced by the Company on 14 March 2017 which will be paid on 16 June 2017 to shareholders on the register on 19 May 2017.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
InterQuest Group Plc
David Bygrave (CFO) Tel: +44 (0) 20 7025 0100
Panmure Gordon (UK) Limited (Nomad and Broker)
Karri Vuori or Dominic Morley
Tel: +44 (0) 20 7886 2500
This information is provided by RNS
The company news service from the London Stock Exchange