News blog
Work Group
- BY: Andrew Hore |
- POSTED: 22/04/2008 |
Alchemy boss Jon Moulton has increased his stake in recruitment company Work Group to 12.64%.
Moulton has added 900,000 shares to his stake during April. He took his stake above 3% one year ago and has consistently picked up additional shares since then. His stake is currently worth £1.8m.
Over that period the shares have fallen from 81.5p to 50p, which values the company at £14.3m. The fall in the share price has predominantly been in the past six months.
Gross fee income increased 19% to £16.1m in 2007. Pre-tax profit rose from £2.4m to £3m. House broker Altium forecasts further progress to £3.5m this year. That puts the shares on six times prospective earnings.
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