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UK Parity Group revenue rises in 2018, but loss of contract hits profits – Staffing Industry Analysts

Daily News

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16 April 2019

Specialist technology staffing company Parity Group (PTY: LSE) reported revenue for the year ended 31 December 2018 of 86.1 million, an increase of 2.7% compared with the same period last year.

Adjusted pre-tax profit decreased by 48.7% to 850,000 last year due to costs related to the delay and subsequent loss of a Ministry of Defence contract for Parity Consultancy Services. The delay and subsequent loss of the contract also impacted operating profit which decreased by 64.8% in 2018.

The group had earlier issued a profit warning in November 2018 over the delay of the contract.

( millions) FY 2018 FY 2017 Change
Revenue 86.1
…

Read the full article at: https://www2.staffingindustry.com/eng/Editorial/Daily-News/UK-Parity-Group-revenue-rises-in-2018-but-loss-of-contract-hits-profits-49646

Category: RestructuringBy Insolvency GuardianApril 16, 2019

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