Dillistone Shares Leap As GatedTalent Set To Exceed Expectations

LONDON (Alliance News) - Shares rose in Dillistone Group PLC on Thursday as it said GatedTalent ...

Alliance News 7 December, 2017 | 9:17AM
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LONDON (Alliance News) - Shares rose in Dillistone Group PLC on Thursday as it said GatedTalent performed ahead of expectations since its launch in early October, becoming the fastest selling product in the history of the group.

Shares in the recruitment-focused technology services supplier rose 39% at 75.00 pence on Thursday.

GatedTalent is a private network that enables executives to share information with their selected recruiters in a private manner.

Dillistone reported that by the end of November, contracts have been received from firms in several countries in Europe, with additional contacts won with businesses based outside the European Union.

In the UK alone contracts have been signed with 20 firms, including executive search firms with boutiques in niche areas such as board search, financial services, technology and pharmaceuticals.

Although revenue in 2018 will mainly come from search firm subscriptions, the long-term performance of the business will come from the size and quality of its executive database. Initial expectations by Dillistone was that clients would send around 1.0 million invitations to executives by March 2018, with a certain percentage of this creating profiles.

However based on the volume, nature and expected usage of firms that have signed up, the group is confident that the product will achieve and beat this target significantly. However Dillistone said "it remains too early to estimate the conversion rate of invitations to profile."

"We are delighted that so many of our clients see GatedTalent in the way that we do - as a way to convert the challenges of the General Data Protection Regulation into an opportunity to increase engagement with candidates. We are well on our way to building the world's largest private executive network of this type and are increasingly confident that GatedTalent will be transformational for the global executive search industry and for our group," said Chief Executive Officer Jason Starr.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Dillistone Group PLC 45.00 GBX 0.00 -
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