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Parity shares gain as it expects double digit growth in first-half profits

Parity said its "robust first-half performance" and "encouraging" sales pipeline gives it confidence in achieving sustained organic growth

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Shares rose over 6% in afternoon trading

Parity Group PLC (LON:PTY) said it expects to report double-digit growth in profit before tax in the first half, sending its shares higher on Wednesday.

The technology-focused consultancy and staffing business said its tight cost controls and working capital management “continue to provide a solid platform upon which to grow”.

READ: Parity's full-year profits jump 73% as it exits non-core to focus on key growth areas

"This robust first-half performance combined with an encouraging sales pipeline from both existing and new customers, gives us confidence in achieving sustained organic growth, supported by our continued investment in new sales capability and our development of higher value services targeting the high growth data solutions markets,” said chief executive Alan Rommel.

Shares edged up 6.5% to 13.90p in afternoon trading. 

Quick facts: Parity Group PLC

Price: 8.25 GBX

LSE:PTY
Market: LSE
Market Cap: £8.47 m
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