Specialist professional recruiter Hydrogen Group says “the uncertain macro-economic environment” has continued to make trading conditions difficult, particularly across financial services, one of its core markets.

In its trading update for the financial year ending 31 December 2008, the company says: “We have seen solid performances across IT, legal and engineering disciplines during the year, and we continue to expand our international operations where demand for high quality, specialist candidates remains robust.

“We have continued to maintain tight cost controls and have taken action over Q4 to reduce the cost base of the business. We achieved better than expected cash generation over the second half of the year and maintain a strong balance sheet. In December we renewed our existing banking facilities for two years at a small premium to existing rates, in order to meet all likely working capital needs over that period.”

“The board remains confident that the group’s pre exceptional profit before tax for the year ended 31 December 2008 will be in line with market expectations.”

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