FINANCIALS: Hydrogen Group expects confident trading

Global specialist recruitment group Hydrogen Group is continuing to trade in line with expectations, according to a trading update for the six months to 30 June 2019.

The update reveals net fee income for the period exceeded £15m, with net cash at £3.4m.

As previously noted at its Annual General Meeting on 23 May 2019, the group’s performance in the year to date has been affected by weaker trading conditions in certain of its Asia-Pac businesses and by Brexit-related uncertainty dampening demand in the UK. Its US operations continue to trade strongly, though, and its geographic diversity of global operations is enabling the group to continue to grow and gives management confidence in its prospects for 2019 and beyond.

The group’s board adds it is continuing to review acquisition opportunities and will provide a further update at the time of the interim results, set for Tuesday 17 September 2019.

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