Highams Systems narrowed its annual loss and saw turnover boosted by the acquisition of RWP Recruitment Services.

Highams reported a pre-tax loss of £13,000 for the year to March, compared with £511,000 a year earlier.

Turnover rose to £18m, from £13.5m. For the first time, the results included a full year’s contribution from RWP.

Chairman Alan Howarth said trading in Highams’ specialist areas of insurance and finance had remained positive, with the second half stronger than the first. But he said there had been “continuing pressure on margins”.

The company said current trading was “in line with expectations”.  Howarth said the increasing level of mergers and acquisitions within Highams’ client sectors presented new opportunities.