Spring disposal

IT recruiter to sell training arm

The IT staffing company Spring has announced it will sell its loss-making training division for £1m.

Spring's directors are urging shareholders to vote in favour of the deal, which the company hopes will allow it to focus on recruitment.

Chief executive Richard Barfield said: "As Spring has continued to grow its share of the technology and staffing markets in the UK and Europe, Spring IT Training has become increasingly non-core.

"The disposal will sharpen the focus of our business and enable Spring to concentrate on the growth of our core staffing operations."

Last year Spring IT Training's turnover was £16.5m and it incurred an operating loss of £1.6m.

Things got worse in the six months ended in June this year, when it lost £2.5m on a turnover of £6.2m.

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