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Parity Group PLC - London-based recruitment and consultancy company - Expects net fee income in six months to June 30 to rise 9% from the second half of 2021. Says it's the first time in more than three years that the company has upped its net fee income in sequential reporting periods. Firm says the improved operating performance ‘follows actions taken to refocus the business and streamline the cost base during the prior year.’ In 2021, Parity reported total net fee income of £4.1 million, down 20% from £5.1 million in 2020.
Expects adjusted earnings before interest, tax, depreciation and amortisation in the period to be around £300,000, compared to £251,000 the year before. In January this year, Parity said it anticipated ‘modest’ earnings before interest, tax, depreciation and amortisation profit, instead of the originally expected loss.
Chair Mark Braund says: ‘Having successfully rebuilt the core recruitment business platform within Parity, we are beginning to see this capability make a positive impact on the performance of the business.The balance of the year will be focused on maintaining our positive momentum and positioning the business for further growth in 2023.’
Current stock price: 8.33 pence, up 1.0%
12-month change: down 17%
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