Dillistone warms market up for revenue growth

Dillistone Group was warming up the market for some positive revenue growth in the year to 31 December, releasing a trading update on Thursday.

The AIM-traded supplier of software for the international recruitment industry said pre-tax profits before acquisition-related items were expected to be in line with market expectations.

"The group is ecpecting to report an increase in revenue approaching 10%, with both divisions [Dillistone Systems and Voyager] delivering organic growth", the company's board said in a statement.

Dillistone said product development continued to be a priority throughout 2015, with a number of upgrades and new project launches successfully achieved, and more expected in 2016.

Looking ahead, the company's board said it had enjoyed a promising start to the year with new business order levels in January up on those seen in the previous two years.

It also spoke of a strong prospect pipeline.

"As a result, the board is optimistic about making further progress in 2016. However, it is also mindful of wider economic influences and their potential to impact on the performance of the business", the board stated.

Dillistone remained profitable and cash generative, it said, and was still following a progressive dividend policy subject to the needs of the business.

The company expected to announce its preliminary results for the year in the week of 25 April.