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UK — Savile Group 6-month revenues fall to 4.1 million Pounds

18 February 2010

Savile Group (SAVG:LSE), the AIM quoted Human Resources consulting group, specialising in outplacement, career transition and talent management announces its unaudited interim results for the six months ended 31 December 2009.

Six months revenues were down by -13% from 4.77 million Pounds in 2008 to 4.16 million Pounds in 2009. Profit before tax during the same period was down from 750,000 Pounds in 2008 to 149,000 Pounds in 2009.


Jonathan Cohen, Executive Chairman of Savile, commented "after an extremely successful financial year ending 30 June 2009, I regret to report disappointing results for the subsequent six months."

"The trading environment remains challenging and uncertain. We believe there is more restructuring to occur in the private sector and that 2010 will see the start of major changes and opportunities in the public sector."

"Having experienced a difficult last quarter of 2009, the board and management remain fully focused on managing our cost base and converting the opportunities we have identified into revenue and, more importantly, into earnings and cash."

After the announcement Savile's shares were down by -1.69% to 29 Pence

 

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