In the year ending 31 December 2008, Impellam group posted an operating loss of £2.4m compared with £3.4m in 2007.

For the purposes of comparison, this is a pro forma figure, calculated as if the merger of Corporate Services Group and Carlisle had occurred on 1 January 2007 rather than in May 2008.

Turnover rose 9.7% to £1,070m (2007: £975m), while gross profit increased by 1.7% to £189.m

Turnover in the UK’s commercial division rose 12.3% on a pro forma basis.

On a statutory basis reflecting the merger of Carlisle and Corporate Services Group in May 2008) group turnover increased by 87% to £755m

Impellam Group chairman, Cheryl Jones, says: “Reflecting the extraordinary economic conditions, which we are seeing in our two largest geographical areas, the board continues to review the businesses in its portfolio, at both a strategic and a tactical level.”

She says that while revenue are below last year, the action to reduce the group’s cost base means that operating profit will be the same as last year.