Pinnacle Staffing believes that it can move back into profit in 2009.
The temporary and permanent healthcare staff provider expects to report a loss of £425,000 on revenues of £19.3m in the first half of 2009 but a rise in second half turnover should mean that Pinnacle reports a small full year profit. Pinnacle lost £7.21m last year, although the underlying loss excluding amortisation and depreciation was £600,000.
The nursing division is trading in line with budget. Revenue growth from the contract with the Bristol and Weston NHS Purchasing Consortium has been lower than expected.
At 3p a share, down 0.5p on the day, Pinnacle is valued at £2.78m. The share price is still double what it was six months ago.
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