Connecting to LinkedIn...

Blank

Rethink Group Cautiously Optimistic Despite Expected Loss

Rethink Group Cautiously Optimistic Despite Expected Loss

The Rethink Group plc - Trading Update

The Rethink Group plc, one of the UK's leading recruitment, talent management and technology services companies, announces the following update on trading.

On 19 September 2012, Rethink announced that in July and August there was an unexpected decline in permanent revenues within the Recruitment Division and as a result full year results were expected to be substantially below market forecasts at that time. Although activity temporarily returned to more normal levels in the first half of September activity levels within permanent recruitment remained subdued and significantly below management expectations during Q4 2012.

Net fee income for the year ended 31 December 2012 increased by 11.3%. However, due to increased investment in the business at the outset of 2012, management now expect the Group to report a loss for the year. Having taken action throughout H2 2012, the Board is confident that the cost base of the Company is now at an appropriate level.

Trading in 2013 has commenced strongly and the Board are cautiously optimistic for the year ahead.

Tags:

Articles similar to

Articles similar to