The recruitment company gave specific figures to a warning during May in which the company said it has experienced delays in conversions to completed job placements and is yet to see an overall uplift in net fee income despite increases in jobs and interviews across many areas of its business.
The company said it has undertaken a major restructuring of the business with the aim of increasing profitability and implementation of the changes was mainly complete by the end of June.
As a result of the changes,
However, the company said it has remained cash generative during the period and control of its working capital remains strong. The company added that it expects profit for the full year before exceptional items to be in line with expectations.
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