RDGC Ridgecrest Plc

TIDMNAK

RNS Number : 6654N

Nakama Group Plc

21 January 2019

21 January 2019

Nakama Group plc

("Nakama" or the "Group")

Trading Update

Nakama Group plc (AIM: NAK), the AIM quoted recruitment consultancy working across UK, Europe and Asia providing recruitment and related services for the web, interactive, digital media, IT and business change sectors, is today providing a trading update, based on the Group's "flash" results for the third quarter of the financial year ending 31 March 2019.

During the third quarter the Group's Asian trading performance fell below management's expectations, generating less revenue than had been projected, which materially affected the Group's profitability. As a result, the Company's third quarter was loss making, resulting in the Company achieving breakeven over the first three quarters of the current financial year (having announced an interim profit before tax of GBP186,000 for the six months ended 30 September 2018).

Since the start of the new calendar year the Group has seen an improved performance from all its offices, with more client activity and contractor demands. Management will continue to implement tighter controls, forecasting and operational efficiencies.

 
 
   Enquiries: 
 
   Nakama Group plc                    www.nakamaglobal.com 
 Andrea Williams, CEO                  00 44 75 2559 5100 
 Tim Sheffield, Chairman               00 44 20 7236 2400 
 
 Allenby Capital Limited (Nominated 
  Adviser & Broker)                    www.allenbycapital.com 
 Nick Naylor / Nicholas Chambers       00 44 20 3328 5656 
 

Notes to Editors:

Nakama Group plc is a recruitment group of two branded solutions placing people into specialist and management positions;

-- Nakama operates in the digital, creative, media, marketing and technology sectors all over the world from offices in the UK and Asia.

-- The Highams brand specialises in the Financial Services sector, specifically Business Change and IT in Insurance and Wealth Management currently in the UK and Europe.

Nakama Group plc was created in October 2011 through the acquisition of Nakama Ltd UK and its subsidiaries in Hong Kong and Singapore by AIM listed Highams Systems Services Group plc.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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January 21, 2019 08:30 ET (13:30 GMT)

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