Australian staffing company and training provider Ashley Services Group has instigated a strategic review due to ongoing difficult trading conditions. 

A company statement says following a review of its financial performance for the three-month period ended 30 September, it expects net profit for the year ended 30 June 2016 to be 10% lower than previously expected.

Group chief financial officer Paul Brittain has resigned from his position but will remain in post until 2 April 2016 to assist with the review and ensure proper handover to his successor. 

The company notes his departure is for personal reasons. 

Non-executive chairman Peter Turner and non-executive directors Vincent Fayad and Simon Crean have resigned, effective 1 October 2015. 

Ian Pratt, a partner at Trood, Pratt & Co Chartered Accountants, has been appointed non-executive chairman. Marc Shrimpton, director of group subsidiary The Blackadder Recruitment Company, has been appointed executive director.

The strategic review includes a review of the structure and composition of the board of directors.

The company’s 2015 annual report notes a “challenging financial year”. Acquisitions over the year failed to bring in desired outcomes due to slower than expected integration and lower enrolment in the training divisions. 

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