Recruitment company Kellan Group has appointed Ross Eades as its new chief executive.
Eades has been chief executive of Aim-quoted IT staffing business InterQuest Group since 2003.
Kellan, formerly known as Berkeley Scott, recently appointed Strand Partners as its nominated adviser and broker.
Kellan has already realised £1m out of the expected £1.3m of cost savings from the purchase of Quantica. The combined business generated revenues of £46.7m in 2008. A reported loss of £4.44m, includes a goodwill write-off of £5.05m.
Better credit collection and controls meant that there was a cash inflow from operations of £3.45m. Net debt was £1.84m at the end of 2008.
Kellan continues to reduce its costs because it expects the recruitment market to become even more difficult.
At 4.125p a share, Kellan is valued at £3.64m.
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