IT staffing specialist, InterQuest Group plc (AIM: ITQ.L) is pleased to announce its audited preliminary results for the year ended 31 December 2009.

 

Financial Highlights

• Revenue £97.4m (2008: £105.5m) down 8%
• Gross profit £12.4m (2008: £15.3m) down 19%
• EBITA (before IFRS 2 and amortisation charges) £3.0m (2008: £5.4m) down 44%
• Profit before taxation £1.8m (2008: £3.7m) down 51%
• Basic adjusted earnings per share 7.0 pence (2008: 11.7 pence) down 40%
• Basic earnings per share 4.3 pence (2008: 9.0 pence) down 52%
• Net cash from operating activities £3.3m (2008: £4.9m)
• Net debt reduced from £5.5m at start of 2009 to £3.0m at 31 December 2009
• Final dividend of 2 pence per share paid on 19 February 2010 (2008: 1 pence per share)

• Our business model of championing specialist niche businesses in different sectors has proven to be very resilient to the difficult market conditions of 2009
• Launch of five businesses via the IQ Equity Division
• Launch of two specialist house brands
• Public Sector division awarded two national frameworks dealing with the NHS adding breadth to the Company’s offering
• Doubling of dividend to 2 pence per share reflecting confidence in the strength of our business model

For the full set of results details click here.