LONDON (ShareCast) - The share price of Hydrogen Group (LSE: HYDG.L - news) deflated Thursday morning as the recruitment firm warned
of a flat performance in 2009.
The firm said the trading environment has remained challenging in the first half of 2009 and the board is not expecting any upturn in the second half of the year.
The group expects to roughly break even in the first half of 2009 while full-year results are unlikely to be materially better than those achieved in 2008.
On a positive note cash generation remains strong and this, allied with tighter cost control and debtor management, should mean the company ends the year with a net cash balance.
“We will continue to invest selectively in new markets and geographies to enable us to emerge from the current downturn in a stronger position.,” the company pledged.
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