News blog
Servoca
- BY: Andrew Hore |
- POSTED: 21/11/2008 |
Servoca’s cost cutting programme will result in the company making a loss in the year to September 2008.
Servoca supplies staff to the police and criminal justice sector as well as the medical, care and education sectors.The costs of rationalising the businesses and the management structure will result in one-off costs but the benefits will be seen in the future.
Servoca is trading profitably and its overheads have been reduced by £1.5m.
Darren Browne is stepping down as chief executive and will be replaced by Andrew Church. Church was formerly at IT recruiter Lorien – a company where Servoca’s chairman Bob Morton was a substantial shareholder.
The shares fell 0.5p to 15.5p each, which values Servoca at £7.46m.
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