Australian staffing company Ashley Services (ASH: ASX) announced that the company has continued to experience difficult trading conditions. Following a review of its financial performance for the three months ending 30 September 2015, the company expects that net profit after tax before intangible amortisation (NPATA) for the year ended 30 June 2016 will be at least 10% below previous guidance.

Due to the ongoing trading conditions, the board announces that it will undertake a full strategic review of its operations.

It was also announced that company CFO Paul Brittain has announced his resignation for personal reasons. He will remain in his role for the six months to April 2016 and will assist with the ongoing strategic review to ensure a smooth transition for his successor.

In trading today, the company’s share price closed down 37.7% at AUD 0.38 (USD 0.27), a decrease of 76.3% compared with a year ago. Based on its current share price, the company has a market value of AUD 57 million (USD 40.2 million).