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Work Group
- BY: Andrew Hore |
- POSTED: 18/07/2010 |
Work Group expects to report an operating profit for the first half of 2010.
The recruitment services company generated net fee income 3% ahead at £5.6m. Net cash has fallen from £2.3m to £1.1m over the past six months due to the need for additional working capital.
Rose Colledge, who has been with the company nearly a decade, has become chief executive. Simon Howard remains executive chairman but he will spend less time on the company. Michael Warren has resigned as finance director.
House broker Altium forecasts profits of £300,000 in 2010.
At 14p a share, Work is valued at £4.01m.
The interim figures will be announced on 16 September.
Download the July edition of AIM Journal at www.hubinvest.com/AIMPDFJuly2010_10.pdf
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