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OPD Group
Interim Management Statement
OPD Group plc (“the Group”), the international recruitment services organisation, is today issuing an Interim Management Statement covering the period from 1 January 2008 to 14 May 2008. The Board is pleased to report that trading for the first four months has continued to be positive and net fee income was £31 million, 10% up on the comparable period last year. The strongest growth has been in the Odgers and Portfolio businesses.
On 29 April 2008 the Group announced that its offer for Imprint plc had lapsed. The Board will continue to search for appropriate businesses which can be acquired on terms that it considers offer shareholders an acceptable return on investment. If the acquisition of Imprint plc by Premier proceeds on the terms currently offered, the Group will receive approximately £2.3 million in cash for its holding.
When the Group published its results for 2007 on 18 March 2008, the Board noted the prevailing macro economic forecasts but commented that there had been no overall decline in trading in the areas in which the Group operates. This remains the trading position.