World Careers Network (WCN), an e-Recruitment specialist, has announced a decrease in yearly revenue and operating profit. 

The firm’s annual financial results for the year to 31 July 2015, published with the London Stock Exchange this morning, show:

• Revenue of £7.86m (2014: £8.58m)

• Operating profit of £1.15m (2014: £2.43m)

• Sales generated £7.9m (2014: £8.6m)

In the financial statement, WCN chairman Charles Hipps said new business performed “relatively well”, though only partially offset the fall in revenue. Sales fell due to the renewal of a major contract at a significantly lower fee, he added. 

He also notes “competitive pressure and economic instability” as a continuing risk for the company.