Kellan Group Y/E results reveal NFI of 8m up 4.3m
Operating profit of £0.26 million in 2014 compared with an operating loss of (£1.26) million in 2013.
Continued streamlining with administrative expenses reduced by 13.3% year-on-year from £8.9 million in 2013 to £7.7 million.
Loss of 0.02p per basic and diluted share (2013: loss 0.66p).
Richard Ward, executive chairman, said, "As many of you will be aware, the recruitment industry has demonstrated significant recovery this year, with the Recruitment & Employment Confederation's (REC) 2013/14 Recruitment Industry Trends Survey finding that revenue is now higher than before the recession.
"Kellan Group's performance in 2014 is evidence of the Group taking advantage of an improving market, albeit there is still some way to go. The Group is well positioned to continue to grow in its markets throughout 2015 and beyond.
"Having over 25 years' experience as a Board Executive, I feel confident that I can successfully lead the Kellan Group and the overall improved performance of the Group regarding EBIT. The underlying performance of the business is encouraging and I am delighted to join the Group at such a time. I look forward to working with the Board and senior management team to improve the success of each of the stable brands within the business.
"The Board thanks Tony Reeves and Quentin Spratt for their efforts and contributions to the Group. I welcome Mark Darby on the Board and wish him every success for the future.
"My sincerest thanks go to all our customers, staff and all our loyal shareholders for their long standing support and resilience."