Interquest Group to commence formal sale process

Recruitment company Interquest Group announced on Tuesday that it was starting a formal sale process.The firm said the decision was part of a strategic review aimed at exploring options to maximise value for its shareholders."In a rapidly evolving industry, where remaining at the forefront of technological developments and the increasing importance of big data is paramount, it is crucial to continue to invest and offer a large scale platform to clients and candidates," Interquest said in a statement.In the first six months of 2014, the company posted a pre-tax profit of £1.6m, up from £1.2m in the corresponding period in 2013, while revenue rose to £73.0m, from £56.2m.Interquest shares were up 9.09% to 120.00p at 15:58 on Tuesday.