HYDG Hydrogen Group Plc

TIDMHYDG

RNS Number : 6171T

Hydrogen Group PLC

15 November 2019

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

Trading Update

Hydrogen Group, the global specialist recruitment group, provides the following update on trading for the year ending 31 December 2019.

As reported in the Group's Interim Report on 3 September 2019, the Group traded in line with expectations during

Q3.   Subsequently, trading conditions in two of the Group's key markets have deteriorated. 

In the UK, demand levels have continued to be impacted by growing political uncertainty. This is now being exacerbated by the impact of the proposed changes to the IR35 legislation on clients' contract hiring plans.

In the Asia Pacific region, the public disorder and demonstrations in Hong Kong are now having a material impact on local activity levels.

As a result, the Board expects the Group's full year underlying profit before tax to be below current management expectations.

The Board continues to have confidence in the Group's future prospects and will provide a further update in the new year.

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

Notes to the editor

Hydrogen Group is a group of specialist recruitment and people solutions businesses with a proven global platform with clients' in over 50 countries. We deliver by building market leading niche specialist teams that develop a deep understanding of candidate and clients' needs and developing solutions.

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.

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