The annual general meeting of Dods (Group) plc (“the Group”) is being held in London today. The following statement, presenting an update on trading conditions and progress on the Group’s activities since the publication of the annual report in May, is being given at the meeting by the chairman, Kevin Hand:- Activity levels in the first half of the year are traditionally significantly less than during the second half and this is expected to be the case in 2011.
The UK political markets have been affected by a number of influences – some positive to Dods and some negative. The strongest positive development remains within our Digital Information & Intelligence products, which continue to show significant growth and strong renewal rates. At the same time, our Party Conference Fringe events in the autumn are expected to reach record numbers.
However, the group’s weakest performing areas remain those aligned to the Civil Service. The lack of clarity in the Government’s spending and outsourcing plans has led to a slowing down in spend across a number of products, reinforced by the Government’s continuing delay of the tender process in relation to Civil Service learning.
Nevertheless, the Board remains confident that reduced activity levels in Civil Service related areas will be mitigated by strong revenue growth in the Digital Information & Intelligence and Events portfolios.
Enquiries:
Dods (Group) plc
Kevin Hand, Chairman
Rupert Levy, Finance Director
020 7593 5500
Cenkos Securities plc
Stephen Keys, Adrian Hargrave – Nomad
020 7397 8900