Financials: Rethink trading in line with expectations, plus new contract win
22 July 2014
Recruitment and talent management provider Rethink Group is trading in line with expectations, according to the company’s latest trading update.
Tue, 22 Jul 2014Recruitment and talent management provider Rethink Group is trading in line with expectations, according to the company’s latest trading update.
For the six-month period ending 30 June, net fee income (NFI) increased by 4% and group pre-tax profit is expected to be ahead of the same period in 2013.
Net debt as at 30 June is expected to reduce by 20% to £9.3m (£11.7m at 31 December 2013). The company statement said the group’s debt was wholly attributable to its revolving invoice discounting facility.
In addition, following its three-year talent management contract renewal with retailer M&S earlier this month, Rethink has also signed a three-year contract with a UK-listed multi-channel marketing and communications business.
For the six-month period ending 30 June, net fee income (NFI) increased by 4% and group pre-tax profit is expected to be ahead of the same period in 2013.
Net debt as at 30 June is expected to reduce by 20% to £9.3m (£11.7m at 31 December 2013). The company statement said the group’s debt was wholly attributable to its revolving invoice discounting facility.
In addition, following its three-year talent management contract renewal with retailer M&S earlier this month, Rethink has also signed a three-year contract with a UK-listed multi-channel marketing and communications business.
