Imprint Search and Selection’s first year-end results since it floated last year showed a trading loss but positive cash assets.

The company was floated on AIM last May, raising £5m. Although the year-end results showed a trading loss of £1.8m for 2001, the balance sheet remains strong with net cash of £3.5m.

Imprint’s technology division, established at the time of flotation, has since been closed due to the state of the technology sector. The group has set up a separate tax and treasury function under Mike Richards, a former employee of search firm Heidrick & Struggles. Human resources, legal and interim divisions are also planned for an ‘appropriate time’ later in 2002 or in 2003.

In January, Imprint opened their first overseas offices in Shanghai and Hong Kong.

The market remains ‘challenging’, said chairman Pierce Casey.

The company has plans to acquire in the coming months and has committed a £10m acquisition facility. ‘We are mindful of the attractive acquisition opportunities that typically follow a cyclical downturn,’ explained Casey. The acquisition strategy will continue to be cautious, he added.

Prospects for the future look positive, said Casey. Monthly revenues have grown since December 2001.