NORTHERN Recruitment Group (NRG), which recently bought a 24 per cent stake in Gateshead's Learning Dynamix, has warned its shareholders to expect "half year results lower than expected".
Speaking at yesterday's AGM at its Newcastle-base, chairman Hamish Leslie Melville, told members that although the group has started this year on a firmer financial footing, changes in clients planned recruitment to later in the year would affect results.
"Profits so far have been ahead of budget, with lower costs that anticipated, and although the group has made new business gains, revenues have been affected by an accelerated trend from temporary to permanent employment," he said. "This added to prospective clients shifting planned recruitment campaigns to later in the year is expected to lead to half year results lower than anticipated."
The group has revealed it had taken a quarter share in Learning Dynamix which provides clients with help through training and professional development
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