Hydrogen Group says it is does not expect “any significant improvement” in the company’s performance in the first half of 2009.

In its pre-close trading update, the company says that it expects current trading conditions to continue for the rest of the year. Consequently, it says its performance for this period will be similar to that of the second half of 2008, with the group trading at “broadly breakeven”.

The update continues: “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 board remains confident that the strength of our management team and flexibility of our business model will ensure the business is strongly positioned for growth in the medium term.”