- Recruitment software provider Dillistone said it expected losses for 2019 to be 'broadly' in-line with market forecasts, but revenue in the current calendar year would fall short of estimates. The company currently expected pre-tax losses to be broadly in line with market expectations of a loss of £0.30m, compared with a profit £0.02m last year.

The expectations for a swing to a loss came as costs increased after the company undertook a reorganisation to streamline its corporate structures and operations to achieve efficiencies across the business.

'As anticipated, the costs of the reorganisation remain in line with our estimate of less than £600k and the 'benefits of the group's reduced cost base will be seen from 2020 onwards,' the company added.

Looking ahead, the company said it was confident that it would deliver a pre-tax profit prior to exceptional items in both the first and second half of 2020, but said the decisions taken mean that this would be delivered on a lower revenue base than previously anticipated, with faster growth than expected from 2021 onwards.

At 8:30am: [LON:DSG] Dillistone Group PLC share price was -2p at 31.5p

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