HYDG Hydrogen Group Plc

TIDMHYDG

RNS Number : 4487F

Hydrogen Group PLC

15 July 2019

Hydrogen Group plc ("Hydrogen", the "Group")

Trading Update

and

Notice of Interim results

Hydrogen Group, the global specialist recruitment group, is pleased to provide the following update on trading for the six months ended 30 June 2019.

The Group has continued to trade in line with management's expectations. Net fee income for the period totalled more than GBP15m. The Group's balance sheet remains strong with net cash at 30 June amounting to GBP3.4m.

As noted at the Annual General Meeting on 23 May 2019, the Group's performance in the year to date has been impacted by weaker trading conditions in certain of its APAC businesses and by Brexit related uncertainty dampening demand in the UK. Conversely, the Group's US operations continue to trade strongly. This 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 Board is continuing to review acquisition opportunities, applying the strict assessment criteria that it has developed relating to strategic, financial, operational, and cultural fit.

Notice of results

The Board looks forward to providing a further update at the time of the Interim Results, which will be announced on Tuesday 17 September 2019.

Enquiries:

   Hydrogen Group plc                                                   020 7090 7702 

Ian Temple CEO

John Hunter, COO & CFO

   Shore Capital (NOMAD and Joint Broker)             020 7408 4090 

Edward Mansfield / James Thomas

   Whitman Howard Limited (Joint Broker)              020 7659 1234 

Hugh Rich

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July 15, 2019 02:00 ET (06:00 GMT)

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