The parent company of Voyager Software & Dillistone Systems, (Dillistone Group Plc) announces Final Results for 2015. 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 audited final results for the 12 months ended 31 December 2015.
Date: 27th April 2016
Highlights for the year:
- Revenues up 9% from 2014 to £9.44m
- Record level of recurring revenues of £6.61m, up 11% from 2014
- Recurring revenues, representing 70% of Group revenue, covered 100% of administrative expenses before acquisition related costs
- Profit after tax for the year up 6% to £1.21m
- Basic earnings per share increased to 6.20p
- Final dividend of 2.75p per share recommended, making total dividend for the year of 4.1p (a yield of 5% on a share price of 80.5p)
- Cash funds of £1.60m (2014: £1.93m) after acquisition related payments of £0.67m. Bank borrowings total of £0.33m (2014: £0.49m)
- Dillistone Systems division – further product investment leading to increase in client retention rate, new sales and revenues
- Voyager Software division – launch of cloud hosted version of Infinity; launch of integration of ISV FastPath and Infinity; and launch of version 6 of Evolve
Post period end:
- Strong first quarter – FileFinder Anywhere new client orders up over 70% and Voyager Software division orders up circa 50%
- Launch of FileFinder Anywhere Essentials in March 2016 – the only truly browser based product from a mainstream supplier to the executive search market
- New product launch expected in Voyager Software division in 2016
Commenting on the results and prospects, Mike Love, Non-Executive Chairman, said:
“The Group has seen record levels of revenue and recurring revenue in 2015. It has continued to invest strongly in its businesses to ensure its clients remain at the forefront of technology, paving the way for continued success in future years.
“This represents our fourth successive year on year increase in the dividend, in line with our progressive dividend policy, illustrating the Board’s confidence in the future prospects of the Group, which has been reinforced by an excellent order book in the first quarter.”
Adjusted operating profit is statutory operating profit before acquisition costs, related intangible amortisation, movements in contingent consideration and other one-off costs relating to acquisitions.
Adjusted EBITDA is adjusted operating profit with depreciation and amortisation added back.
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 20 May 2016 for approval at the Annual General Meeting to be held on 14 June 2016.
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 operates 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 October 2014 and these business make up the Voyager Software division. The Group operates under the FileFinder, Voyager, 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, Southampton, Frankfurt, New Jersey and Sydney.