The Blomfield Group, the executive search and selection firm, has reported a loss of £36k for the year ended 31 December 2009, compared with a profit of £5.3m in 2008.

The company directors’ report said the group continued to experience reductions in demand for its services in the tough economic conditions. However, it said that since the year end it has seen “an upturn in demand” and has “returned to profitability”.

The year the company was rebranded as Randstad Financial & Professional. The company said: “The rebrand will allow us to take advantage of the many marketing and business opportunities created via the wider Randstad family.”

The group reduced its headcount by five to 10 in the year, which resulted in its employment costs falling from £1m in 2008 to £247,751 in 2009.