25th Jan 2008 07:01
Berkeley Scott Group Plc25 January 2008 25th January 2008 BERKELEY SCOTT GROUP PLC ANNOUNCES PROPOSED NAME CHANGE TO KELLAN GROUP PLC AND COMPANY UPDATE Berkeley Scott Group Plc ("the Group" or "the Company" or "Berkeley Scott"), amarket-leading provider of human resource services to the hospitality, leisureand professional services sectors announces a proposed group name change toKellan Group Plc and presents a summary update of progress for the 3 monthsended 31 December 2007 ("final quarter"). Kellan Group will then comprise thethree recruitment brands, Berkeley Scott, Quantica and RK. These brands comprisethe recruitment businesses, Berkeley Scott, Quantica Technology, Quantica Search& Selection, RK Accountancy, RK Supply Chain and RK Search and Selection. Proposed Group Name Change Berkeley Scott Group Plc will become Kellan Group Plc conditional uponshareholder approval, effective on, or soon after, 18th February. The Boardbelieve that the name change is necessary to reflect the newly enlarged group ofcompanies, and to avoid confusion with Berkeley Scott which, for over 20 years,has been a strong brand synonymous with hospitality and leisurerecruitment. Since September 2007, the enlarged group of companies includesQuantica and RK, both well known recruitment brands in technology, finance andprofessional services. The new group name has been proposed following aconsultation with employees and testing among key stakeholders. Kellan is theCeltic word for powerful. The Company is sending a Notice of Meeting ("Notice") to shareholders to convenean Extraordinary General Meeting ("EGM") for 10am on Monday 18th February 2008at Berkeley House, 11-13 Ockford Road, Godalming. The purpose of the meeting isto seek shareholder approval for a change of the group name. Berkeley Scott Group Plc Update Very satisfying progress continues to be made across all of the group'soperating divisions: Berkeley Scott •Net Fee Income (i.e. gross margin) increase of 17% for final quarter over prior year, on a like-for-like basis (previous quarter's increase was 15.4% over prior year) •Average permanent fee (£) in December '07 was 36% higher than in the 6 months to March '07, demonstrating successful progress of 'higher margin, higher value' strategy •Significant new client wins and continued success in re-negotiating existing contracts Quantica Group •Trading well in all businesses previously under the Quantica Group Plc umbrella (Quantica Technology, Quantica Search & Selection, RK Accountancy, RK Supply Chain and RK Search & Selection) since the acquisition was completed at the end of September •Specifically the core markets of IT and Finance are trading very well, we are positive about their growth prospects for this year Quantica Technology •Net Fee Income increase of 44% for final quarter over prior year •New office opened in Leeds in H2 '07 already trading profitably •Contractor numbers for final quarter 33% higher compared to prior year RK Accountancy •Accountancy recruitment showing Net Fee Income in final quarter up 12% on prior year •Aggressive expansion plans for RK Accountancy, two new offices are planned for '08 Commenting on progress John Rose, Chief Executive Officer of Berkeley Scottsaid: "The Group is making pleasing progress in integrating the acquired companies,and is achieving consistent growth and profitability. The final quarter tradingperiod has been in line with our expectations and we are now seeing a steadyincrease in profitability across the group. We have secured some prestigious newcontracts and are capitalising on the excellent growth opportunities that theenlarged group offers. "The outlook for the Group is very positive and we are confident about ourprospects. Not only do we continue to see strong demand for recruitment servicesacross the UK but we see many new opportunities to grow our existing business." Enquiries:Berkeley Scott Group PlcJohn Rose, Chief Executive Officer 01483 414141Will Coker, Chief Financial Officer Daniel Stewart & CompanySimon Leathers / Stewart Dick 020 7776 6550 Brunswick Group LLPHelen Barnes / Helen Brown 020 7404 5959 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Kellan Group