3 November 2009

Hexagon Human Capital plc 

AGM Trading Update

At the Company's Annual General Meeting to be held today at 10.30am, Rob Walker, Executive Chairman of Hexagon Human Capital plc, a leading provider of senior interim managers and a leading executive search company, will say:

The overall performance of the Group in the first half of 2009 is in line with the Board's expectations; however it is too early to assess whether this trend will continue throughout the second half of the financial year. The Board continues to implement its cost reduction initiatives but the benefit of the savings will not be felt until the final quarter of the current financial year, and it will not be until the year ending 31 March 2011 that the full benefit is felt.

The search businesses have seen an increase in the number of retained assignments but it is too early to predict whether this will continue throughout the second half of the year.

Euromedica has been ranked by Executive Grapevine "No. 1 Executive Search Firm in Healthcare and Life Sciences", for the third successive year.

The interim businesses have also seen increased activity towards the end of the second quarter, as companies continue to hire experienced, "seasoned" professionals to help guide them through the current recession. 

The Board remains in discussion with the Group's bankers in order to finalise new facilities appropriate for current and expected trading. A detailed reforecast of the Group's cash requirements is being undertaken by Ed Watkinson, Interim Head of Finance.

Hexagon's strategy is to capitalise on the strength of the Group's brands. The Board believes that through the continued implementation of this strategy the Group will be well positioned to benefit from an upturn in trading when it occurs.

Ends 

Enquires to:

Hexagon Human Capital plc                                     Tel: 020 7337 1133

Rob Walker, Executive Chairman          
   

Brewin Dolphin Investment Banking (NOMAD)         Tel: 0845 213 4730

Matt Davis/ Adam Rudd