However, a statement on its unaudited interim results for the six months to 30 June 2018 also reveals the recruitment and training organisation posted revenue of £534.6m, up 11.1% on H1 2018. Revenue was also up 14.8% for the group’s recruitment division but down 19.5% for its PeoplePlus business. Net debt for the group also increased 52.3% over the period.

Elaborating on the group’s performance, CEO Chris Pullen said Brexit, a challenging trading environment and the group’s delay in publishing its 2018 results have created uncertainty. The delay was due to the group launching an investigation into allegations by a third party in respect of invoicing and payroll practices in its recruitment division.

Pullen continued: “As a consequence of this and the transformation of PeoplePlus, this year’s result will be more heavily weighted than usual towards the final quarter. Brexit has become the source of unprecedented uncertainty for our end customers and is increasingly weighing on consumer confidence.

“The performance of our end customers in food and retail has a direct impact on the demand for our services. Despite this, we remain convinced that the challenges the group is currently facing are short term and that the business is sufficiently differentiated in its service proposition to return to future growth. We have developed an excellent platform as a result of the strategies we have put in place, and look forward to continuing to further enhance the leading positions we have in each of our core markets.”

In a separate announcement, the group announced the appointment of independent director and board adviser Richard Thomson as non-executive director.

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