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Kellan Group

  • BY: Andrew Hore |
  • POSTED: 15/04/2009 |

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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