Updates

Parity - Await first of many deals on digital solutions side

April 2013

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

As anticipated, Parity's FY'12 results saw each of its four divisions return to profitability. Sales were up 7% to £85.9m with an adjusted profit of £0.3m compared to a loss of £0.7m a year ago. Net cash at the year end was £2.8m.There was not a huge amount to add to what we said last month. Suffice to say that Parity Professionals, the resources and talent management businesses, grew revenues 10% year on year and recorded a £4.7m operating profit. Keynote was that contractor numbers grew 15% to 880 year-on-year and the profile has shifted to 63:37 private: public sector clients.Within Parity Digital Solutions, comprising Systems and Inition, adjusted profit was £1.6m, of which &poun ...

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