Record month for Dillistone Systems in May

RNS Number : 2435A

Dillistone Group PLC

06 June 2016

 

6 June 2016

Dillistone Group Plc

Dillistone Systems announces record month for

FileFinder Anywhere implementations

Dillistone Group Plc, the AIM quoted supplier of software to the recruitment industry, is pleased to announce that May 2016 was an exceptionally good month for system implementations in its Dillistone Systems division.

Since the launch of FileFinder Anywhere in September 2014, the Dillistone Systems division has seen an increase in both new system sales and client retention rates; the latter being principally through system upgrades from former iterations of FileFinder to the new FileFinder Anywhere suite.  The Board noted an acceleration in the Division's new business sales in the first quarter as part of its most recent trading update.

May 2016 saw what the Directors believe to be the highest level of implementations of licences in the 33 year history of the business with over 800 upgraded and new licences installed on the FileFinder Anywhere platform.  This is a testament to how well the new FileFinder Anywhere suite is being received by both new and existing clients. 

The majority of new FileFinder Anywhere licences sold are on a Software as a Service (SaaS) basis, resulting in a dependable future revenue stream for the Group, however with reduced impact on short-term realised revenues as contract revenues are recognised over a longer period. 

Existing clients can upgrade to the new platform on a SaaS basis in a cost effective way, paying for implementation and cloud or browser services as required but without purchasing new software licences.  In most cases, for upgrades, the upfront fee will be relatively small, although in other cases it may be a significant five figure amount or, occasionally, higher. 

As a result, whilst this announcement demonstrates a considerable vote of confidence in the new platform it will not materially change the financial out-turn for the current financial year.

Jason Starr, Chief Executive of Dillistone Group Plc, commented:

"We announced a month ago that our Dillistone Systems division had enjoyed an exceptional start to the year, with a 70% increase in our new business order book, as compared to the same period in the previous year. 

"I'm delighted to say that our implementation teams are working - literally - around the clock to deliver on this growing demand and May 2016 saw us move over 800 users onto the FileFinder Anywhere platform.  This is certainly one of the best months in the history of the Division.  More and more existing clients are upgrading to FileFinder Anywhere while more and more new clients are choosing FileFinder Anywhere over its old fashioned, Windows based, competitors."

Enquiries:

Dillistone Group Plc
Mike Love	Chairman	020 7749 6100
Jason Starr	Chief Executive	020 7749 6100
Julie Pomeroy	Finance Director	020 7749 6100
WH Ireland Limited (Nominated adviser)
Chris Fielding	Head of Corporate Finance	020 7220 1650
Walbrook PR
Tom Cooper / Paul Vann		020 7933 8780
		0797 122 1972
		[e-mail]

Notes to Editors:

Dillistone Group Plc (www.dillistonegroup.com) is a leader in the supply and support of software and services to the recruitment industry. It has four trading businesses operating through two divisions: Dillistone Systems, which targets the executive search industry (www.dillistone.com); and Voyager Software, which targets other recruitment markets (www.voyagersoftware.com).

Dillistone has made three acquisitions: Voyager Software in September 2011, FCP Internet in July 2013 and ISV Software in September 2014.  The Group operates under the FileFinder, Infinity, Evolve and ISV brands.

Dillistone was admitted to AIM, a market operated by the London Stock Exchange plc, in June 2006.  The Group employs over 100 people globally with offices in London (head office) Basingstoke and Southampton, Frankfurt, New Jersey and Sydney.

 

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