Losses increase at Judd Farris after challenging year

Mon, 12 Jul 2010

Losses at property recruiter Judd Farris increased in 2009 after what the company describes as an “exceptionally challenging” year.

Losses after taxation increased to £447,368 in the year to 3 January, compared to £137,726 in 2008. Turnover rose from £3.6m to £7m.

In their report, the company directors state: “2009 was exceptionally challenging in terms of sales activity and the deterioration in sales was particularly in permanent recruitment, hampering margins and overall profitabiliy. Management held firm on its strict pricing discipline helping to limit continued pressure on margins, despite declining sales.”

Judd Farris’s parent company, MPS Group, was acquired by Adecco in January 2010.