FINANCIALS: Kellan Group revenue down nearly 12%
Multi-sector recruiter Kellan Group has seen revenue fall 11.8% year-on-year, according to annual results for the year ended 31 December 2016.
The results, released this morning, reveal full-year revenue of £21.9m – down 11.8% from £24.9m in 2015. However, the group posted H2 2016 revenue of £11.9m, up 19.6%, compared with H1 2016 of £10m, and H2 net fee income (NFI) of £3.5m up 3.4% on £3.3m in H1 2016.
While the group saw an impairment charge (non-cash) against goodwill of £2.6m (2015: nil), it posted operating profit before impairment of £400k, compared with an operating profit of £800k in 2015.
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