2011 interim results presentation april 2011
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2011 Interim Results Presentation April 2011. Adrian Gunn - Chief Executive Officer Tony Dyer - Chief Financial Officer. Headlines H1 Trading in line with expectations . Good progress during the period, with significant investment in headcount

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2011 interim results presentation april 2011

2011 Interim Results PresentationApril 2011

Adrian Gunn - Chief Executive Officer

Tony Dyer - Chief Financial Officer


Headlines h1 trading in line with expectations
HeadlinesH1 Trading in line with expectations

  • Good progress during the period, with significant investment in headcount

  • Solid performance from Matchtech UK, including new Framework Agreement wins

  • German operation establishing a strong presence, winning Preferred Supplier Agreements in Aerospace

  • elemense showing progress in delivering RPO services

  • New Professional Services brands, Barclay Meade and Alderwood Education, now gaining traction

  • Revenue up 13% to £141.1m

  • Total NFI up 9% to £13.6m

  • Profit before tax of £2.3m (2010: £4.4m), reflecting accelerated headcount investment

  • Number of contractors on placement up 9% to a record 5,200

  • Balanced Contract and Permanent mix in growth sectors bodes well for the medium term

  • Interim dividend maintained at 5.0 pence per share, reflecting resilience of core business and confidence in future



Income statement resilient profits
Income Statement Resilient profits

4


Overheads investments
Overheads Investments

5

  • £1.9m invested in new Professional Services brands sales force and selling costs

  • £0.7m invested in Matchtech UK core business sales force and selling costs

  • £0.2m invested in new offices

£0.3m LTIP Writeback in 2010 H1


Earnings per share dividends maintained dividend
Earnings per share & dividendsMaintained dividend


Balance sheet low net debt
Balance SheetLow net debt


CashflowCash generation


Contract activity record contractor numbers
Contract ActivityRecord contractor numbers

Average weekly Net Fee Income

Number of Contractors and Vacancies Filled


Permanent activity increased average weekly permanent fees
Permanent ActivityIncreased average weekly permanent fees

Number of Permanent Placements

Average Weekly Permanent Fees



12

New Reporting StructureClarity

Permanent Fees: 31% (2010 H1: 23%)

Contract NFI: 69% (2010 H1: 77%)


Engineering sector 35 of group nfi solid performance in core markets

Key Clients

BAe via Xchanging, Babcock Marine, ExxonMobil, Aston Martin, AgustaWestland

New Client Wins

GKN Aerospace – Airbus Supply Chain

DONG Energy – Offshore Wind Farms

Prodrive – Vehicle Technology

Engineering Sector 35% of Group NFISolid performance in core markets

13


Built environment sector 18 of group nfi resilient in challenging market

Key Clients

TfL, Mouchel, WSP, Atkins, Arup

New Client Wins

Mott MacDonald – Rail Infrastructure

RPS – Water Leakage

Anglian Water – AMP5

Built Environment Sector 18% of Group NFIResilient in challenging market

14


Is t sector 21 of group nfi strong growth

Key Clients

TfL, Arqiva, Invensys, Capgemini, Cognizant

New Client Wins

Selex SI – Cyber Technology

Kingfisher Group – Retail

Avanade – JV Microsoft & Accenture

IS & TSector21% of Group NFIStrong growth

15


Science medical sector 7 of group nfi continued investment for growth

Key Clients

BAT, Lonza Biologics, UCB, GE Healthcare

New Client Wins

Arla Foods – Cravendale, Lurpak, Anchor

GSTS Serco – Pathology

Britvic – Soft Drinks

Science & Medical Sector 7% of Group NFIContinued investment for growth

16


Germany 1 of group nfi building firm contractor base

Key Clients

GCT Aerospace, Porsche, Ricardo

New Clients

EADS Eurocopter

MTU Aerospace

Jet Aviation

Germany 1% of Group NFIBuilding firm contractor base

17


Professional services 13 of group nfi gaining nfi traction

Key Clients

Babcock, BP, BAE via Xchanging, Arqiva, Wood Group, GE Oil & Gas

New Clients

Lloyds Insurance – Financial Services

Carnival – Travel

AstraZeneca – Pharmaceutical

Fat Face – Retail

Professional Services13% of Group NFIGaining NFI traction

18


Elemense 5 of group nfi winning new clients and extending existing contracts

Supporting Group Delivery

delivers more sophisticated recruitment solutions

provides account management support to some of the Group’s largest accounts

c16% of annual Group Revenue, c13% of annual Group NFI

Key Clients

Babcock, Mouchel, Ricardo, WSP, Cosworth

New Clients

Selex SI and Vega - Finmeccanica

Automotive OEM – Premium Brand

elemense5% of Group NFIWinning new clients and extending existing contracts

19


Outlook uk recruitment sector
OutlookUK Recruitment Sector

KPMG/REC UK Labour Market Report on Jobs

Top 3 sectors for improved levels of demand for permanent staff

IT & Computing

Engineering & Construction

Professional Services

Top 3 sectors in demand for temporary and contract staff

Engineering & Construction

Blue Collar

IT & Computing

In these sectors we have

A balanced Contract and Permanent mix

A niche specialisation

Capability to take greater market share


Investment summary strong fundamentals clear growth strategy
Investment SummaryStrong fundamentals & clear growth strategy

Strong fundamentals

Flexible low cost business model

Focus on organic growth

Resilient contract focus with record contractors on assignment

Low net debt and committed funding facilities

Solid dividend payout record

Clear growth strategies

Capability and resource to increase permanent fees rapidly

Diversifying client base through the launch of Barclay Meade and Alderwood

Reaching new clients through strategic new office locations

Working with clients to transform their recruitment processes through Elemense

Expanding geographically into Germany

“The Board currently anticipates that the results for the year to 31 July 2011 will be in line with market expectations and remains confident in its outlook for the Group’s prospects over the medium term”



Executive team combining internal experience with key external appointments
Executive TeamCombining internal experience with key external appointments

23

Keith Lewis - Managing Director, Matchtech UK

Keith is responsible for all of our UK operations across the Engineering, Science & Medical, Built Environment and IS&T sectors. Keith, a Fellow of the Institute of Recruitment Professionals (FIRP), joined us in 1993 as a Senior Consultant, before progressing to his current position. Keith is also on the Steering Committee for the Engineering & Technical sector at the Recruitment & Employment Confederation (REC).

Nigel Lynn - Managing Director, Barclay Meade and Alderwood Education

Nigel has over 23 years’ experience in the professional staffing recruitment industry. He is a qualified Accountant, having had experience with Westland Helicopters, Max Factor and Meggitt Holdings. He founded his own accountancy recruitment business, which was successfully sold in 2005, and was then recruited to build the professional staffing business of Carlisle Holdings plc. He was promoted to MD of Professional and Technical business following the merger forming Impellam plc. Nigel joined the Group in early 2010 in order to build the professional and education businesses.

Peter Collis - Managing Director, elemense

Peter joined us in July 2010, bringing 15 years' experience in the Business Process Outsourcing and recruitment sectors. He is the Managing Director of our Recruitment Process Outsourcing (RPO) division, elemense. Before joining us, Peter was a Board Member at Wynnwith Group, responsible for its major accounts business. He started his career in Engineering & Procurement at BAE Systems, before moving to Accenture to specialise in Supply Chain Outsourcing and Consulting. Following a move into recruitment, Peter established hyphen as an RPO business at Spring Group and led the business as its Managing Director.

David Rees - HR Director

David is responsible for our HR Policy and the staff development, training and recruitment required to meet the Group's strategic goals. He specialises in developing staff of all levels. David has worked with us for 19 years, starting first as a Consultant advancing to achieve Department Manager status in 1998 and Divisional Director in 2002. In 2008, David was asked to lead our new HR & Training initiatives, and in 2009, was appointed as an Executive Director.


Board of directors many years experience
Board of DirectorsMany years experience

George Materna - Non-Executive Chairman

Over 30 years experience of the recruitment industry, and is the founder of Matchtech.

Adrian Gunn - Chief Executive Officer

Joined in 1988; appointed to PLC Board in 2004 as Business Development Director, Group Sales Director and Group MD before becoming CEO in 2009. Non-Executive Director of Recruitment and Employment Confederation.

Tony Dyer – Chief Financial Officer

Qualified as Chartered Management Accountant in 1995. Joined Matchtech in 1996 as management accountant. Appointed to PLC Board in 2004 as Finance Director before becoming CFO in 2009.

Andy White - Non-Executive Deputy Chairman

A chartered engineer, he formed Matchtech Engineering with George Materna in 1990.

Ric Piper - Non-Executive Director

Chairman and NED of a number of AIM & privately owned businesses. A Chartered Accountant, Ric is a member of the Financial Reporting Review Panel. He has been a member of the Matchtech board since 2006.

Stephen Burke - Non-Executive Director

Over 25 years experience in the recruitment industry with Michael Page in 1981, including 10 years setting up businesses in Europe and then as a plc Director from 2001-2005. A member of the Matchtech board since 2006.


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