Savile Group plc (SAVG.LSE), the human resources consulting group, today announced its unaudited interim results for the six months ended 31 December 2011, recording an increase in revenue from £3.473 million to £3.596 million.

Operating profit before tax went up to £69 million after the firm last year reported a loss of £298 million. Profit after tax amounted to £124 million, in the previous year the firm reported losses of £232 million. Cash flow from operating activities before tax came to £74 million.

Chairman of the Group, David Harrell, said that the firm “has moved back into profit on continuing activities in the first half of the financial year.”

“The Group's unaudited revenue on continuing activities in the six months was £3.60 million (2010: £3.47million) and profit before tax on continuing activities was £0.07 million (2010: Loss £0.28 million). Net assets at 31 December 2011 were £2.00 million (2010: £3.95 million) including net cash of £0.76 million (2010: £1.17 million). The Group has no debt.”

“The closure of 7 Days [Limited] in October 2011 has resulted in a charge for discontinued operations of £1.07 million in the six months ended 31 December 2011. In July 2011 the Fairplace and Cedar activities were combined to create a more robust and focused business and in September 2011, Penny de Valk joined as CEO to lead this business and its team. As part of Penny's ongoing restructuring she has recently recruited a head of business development and a head of practice to help move the business forward.”

Looking ahead, Mr Harrell said that “the trading environment remains challenging but we believe the restructured Group is taking steps to meet these challenges.”

Savile Group is a human resources consulting company that operates through two brands, Fairplace Cedar Limited and IDDAS Limited. Savile's subsidiaries include CEDAR TM Limited, Quantum Development & Outplacement Services Limited and Working Transitions Limited.

In early trading this morning, the company share prices went up a staggering +48.55% and stands at 14.11 Pence, which is down -29.44% from a year ago but 101.60% above the 52- week low of 7.00 Pence set on 26 October 2011.