LONDON (ShareCast) - (Sharecast News) - Recruitment software supplier Dillistone Group has been awarded a three-year contract renewal by a "globally known" recruitment organisation, it announced on Tuesday.
The AIM-traded firm said the contract represented, by value, the largest in its history.

It said its GatedTalent division had seen a continuing acceleration in revenue since its announcement on 5 November last year, as member services had come on line.

The board reported that a larger proportion of divisional revenue was subscription based than had previously been anticipated, increasing Dillistone's ability to deliver sustainable higher quality earnings.

While it still expected the Division to be loss-making in 2019 as a whole, the board said it now expected that the business would make a contribution and become cash-generative in the final quarter of 2019.

It said it anticipated issuing a pre-close trading update, ahead of its preliminary results for the year ended 31 December, by late February.

"We are pleased with progress across the group late in 2018 and into this year, not only with the significant award but also by the progress at GatedTalent," said Dillistone Group chief executive Jason Starr.

"Indeed, we have seen third party data which suggests that GatedTalent has overtaken the previous market leader, Bluesteps, in terms of website visitors and engagement."

Starr said that the increasing conversion of GatedTalent, from a platform generating revenue largely from recruiter transactions to one increasingly generating revenue from member subscriptions, had proven highly successful.

"With member subscriptions growing rapidly, the platform is giving us increasing options in how we position our FileFinder executive recruiting CRMs."

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