FINANCIALS: Work Group narrows losses for 2013
25 April 2014
Recruitment and talent services company Work Group reported a loss before tax of £1.3m for the year ended 31 December 2013, compared to a loss of £5.5m for the previous year.
Fri, 25 Apr 2014Recruitment and talent services company Work Group reported a loss before tax of £1.3m for the year ended 31 December 2013, compared to a loss of £5.5m for the previous year.
Losses for the year from continuing operations narrowed to £1.2m from a loss of £5.4m in 2012.
Gross profit (net fee income) from continuing operations was down 21% to £6m (2012: £7.6m), however the second half performance was more promising as gross profit from continuing operations remained constant at £3m despite first-half client losses.
Commenting on the results, Simon Howard, executive chairman of Work Group, says: "Second half performance was encouraging, as, despite client losses in the first half, net fee income remained constant.”
Losses for the year from continuing operations narrowed to £1.2m from a loss of £5.4m in 2012.
Gross profit (net fee income) from continuing operations was down 21% to £6m (2012: £7.6m), however the second half performance was more promising as gross profit from continuing operations remained constant at £3m despite first-half client losses.
Commenting on the results, Simon Howard, executive chairman of Work Group, says: "Second half performance was encouraging, as, despite client losses in the first half, net fee income remained constant.”
