Despite strong headwinds blowing in the recruitment market, AIM-listed recruitment software company Dillistone Group continues to tack ahead, closing the year to 31st Dec. 2012 with revenues 29% higher at £7.1m and EPS 27% up at 6.76p. The revenue and EPS boost was entirely attributable to Dillistone's acquisition of Woodcote Software, the holding company for UK-based privately held recruitment software firm, Voyager Software (see Dillistone undertakes a bold voyage for growth). Revenues in Dillistone's original executive search software declined by 2% in 2012 to £4.67m, but with a 35% operating margin compared to just under 15% at Voyager.
Dillistone seems to be doing somewhat better than much larger industry peer Bond International (see Bond International inches forward), though its shares have performed only a little better over the past 12 months, up about 8% compared to pretty much flat for Bond's. Dillistone CEO Mike Love said that 2013 has started with an improving order book but remains 'cautious … (in) what remains an unpredictable economic climate'.