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ReThink Group

  • BY: Andrew Hore |
  • POSTED: 21/01/2013 |

Recruitment services provider ReThink Group has admitted that it will make a loss in 2012 just days after its chief executive Jon Butterfield stepped down.

Weak trading in the second half hit the full year outcome. Net fee income increased by 11% in 2012 but the cost base increased even more quickly. Net fee income was one-third higher at £10.4m in the first half, helped by the previous year’s acquisition of Berkley. This suggests a fall in net fee income in the second half. The cost base has been cut back so that it is in line with business levels.

At 6.38p, the share price has fallen by more than one-fifth since Butterfield left the board. ReThink is valued at £7.28m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJanuary2013_40.pdf

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