The group made a loss of £7.01m for the year ending 4 January 2009 compared to £704,000 in 2007.
Revenue fell to £38m from £43m in 2007 year, a decrease of 12%.
EBITDA (earnings before interest tax depreciation and amortisation) was a loss of £362,000, compared to a profit of £186,000 in 2007.
Education and healthcare recruiter Servoca says its trading for the first six months of the year has been ahead of expectations.
The trading statement adds that that all divisions are now delivering profits and it looks forward to continued organic growth in the second half of the year.
After-tax profits at Morson declined to £5.8m for the year ended 31 December 2008, compared to £6.9m in 2007.
However, adjusted profits before amortisation and other exceptional items rose 9.2% to £11.7m (2007: £10.8m).
Group revenues increased by 9.5% to £431.4m (2007: £394m).
Net fee income was up 9.1% to £36.7m (2007: £33.7m).
Automotive firm Jaguar Land Rover is looking for more than 40 Advanced Apprenticeships of over 16-year-olds wanting a career within the automotive industry.
Earnings before income tax depreciation and amortisation (EBITDA) increased to £1,948,000 in the year ending 31 December 2008, compared to £253,000 in 2007.
Gross profit increased to 30.6% of revenue compared, to 29.5% in 2007.
Average debtor days fell to 39 days, from 44 days in 2007.
RBS fraud trial
Stephen Lawrence and Mark Starling allegedly used money from their recruitment business to buy a sports car and high-tech stereo equipment, a court heard on Tuesday.
Private sector workers are being “turned away” from interviews for public sector IT roles by recruitment agencies because they do not yet have security clearance, according to an article in The Times newspaper.
The newspaper claimed “recruitment agencies are telling potential candidates that they will not interview them if they have not yet obtained security clearance”.
Marketing and media recruiter Xchangeteam is opening up a West of England-based recruitment division to open up additional freelance and permanent opportunities.
Less than 10% of executive search firms plan to add professional staff in the next three months, according to ExecuNet’s March Search Firm Hiring Index.
This is despite a rise in both short- and long-term confidence in the executive employment market.
RBS fraud trial