Savile Group plc, is an AIM listed company providing human resources consulting and training through four subsidiaries.
Savile Group reveals first half losses but promises a more positive second half of the year.
Savile, the UK human resources consulting group, which helps blue chip organisations improve business performance through the development of their people, has announced a trading update.
The Group experienced difficult trading conditions in the first half, with like for like income, excluding the CMC acquisition, around 20% below the same period in 2011 (6% above last year including CMC), with demand in the first quarter being particularly slow due to the effect of the Olympics. In addition, reorganisation costs, as further described below, have added to the loss. Accordingly, the Board are expected to report a rather significant loss for the 6 months ended 31 December 2012.
Since acquiring CMC Limited in May last year the Group has undertaken a review of all areas of the CMC, Fairplace and Cedar businesses and has formulated and implemented a transformation plan to wholly integrate operations and improve efficiency. A large portion of the costs associated with the plan, including redundancies have been incurred in the first half of the year.
The poor trading and significant losses incurred in the 6 month period to 31 December 2012 has impacted upon the Group's cash at bank.
The Group reports that 2013 has started on a more positive note and the Directors expect improved performance in the second half of the year to 30 June 2013 compared to the first half.
The Group expects to release its interim results for the 6 months trading to 31 December 2012 on or around 25th March 2013.All company news →
25 January 2016 - Equity Strategies is pleased to announce its lead role in the acquisition of INVE Aquaculture Holding B.V.
27 October 2015 - Equity Strategies advises Benchmark Holdings plc on the acquisition of two key players in the tilapia breeding and genetics sector.
19 March 2015 - Equity Strategies originates acquisition of leading veterinary CPD and training provider, Improve International on behalf of Benchmark Holdings plc.
02 March 2015 - Equity Strategies advised Benchmark Holdings plc on two strategic acquisitions in aquaculture breeding and genetics valued at £41m.
Deal origination - acquisitions - We help quoted companies and private equity houses source acquisitions in the UK and overseas.
Deal origination - disposals - We help owners of companies wishing to dispose of their business.
IPO advice - We provide strategic, financial and valuation advice to companies considering an IPO.
Valuation - We undertake valuations for ESOP transactions, employee share schemes and for a wide range of fiscal, legal and commercial purposes.
Our corporate finance skills can be employed in a wide range of sectors. We have a particular strength in animal health, education, outsourcing, IT, data analytics and financial publishing.More →