FINANCIALS: Kellan Group sees NFI fall but reduces losses
Kellan Group has seen net fee income fall 4%, according to unaudited interim results for the six months ended 30 June 2017.
The multi-discipline recruitment group’s results reveal while year-on-year sales increased by 3% to £10.3m, compared with £10m in H1 2016, NFI fell from £3.3m in H1 2016 to £3.2m in H1 2017.
However, the group managed to reduce its losses from £141k in H1 2016 to £21k in H1 2017.
Across its group business, hospitality specialist Berkeley Scott posted good results with new client wins, whereas the group’s accountancy & finance RK business continued to decline in H1 2017.
However, a statement explained that changes to senior management meant the group is expecting a return to growth for this business in Q4 2017. The RK business also introduced a specialist temporary team in its aim to make more temporary placements over permanent ones.
Meanwhile, the group’s retail, search & selection and technology Quantica business saw NFI decline as it cut headcount, although this helped profitability improve as underperforming consultants left this business.
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