Reading-based private specialist resourcing and consultancy firm Huntswood reported revenue for the year 2016 of £304 million, down 0.8% from £306.6 million in the same period last year.

The company also reported that pre-tax profits also fell 16% to £44.2 million. Huntswood has blamed a change in regulation for slower profit growth last year.

“The 2016 financial year has seen a different level of scrutiny and supervision by the regulators and, as such, we feel there has been a hiatus in the regulators’ approach,” the company stated.

Huntswood was founded in 1996 and employs 5000 people. The company provides compliance staff at FTSE 100 banks and insurance companies.