LONDON (Alliance News) - Nakama Group PLC on Monday said third quarter profitability was negatively affected by poor performance in Asia, but the company remained profitable over the first nine months of the current financial year.
The stock was trading 7.7% lower on Monday at 1.20 pence a share.
The AIM-listed recruitment company said its Asian trading performance in the three months to the end of December fell below management's expectations, generating less than expected revenue.
As a result, the company said its third quarter was loss making, resulting in Nakama achieving breakeven over the first three quarters of the current financial year. For the half-year to the end of September, the company reported pretax profit of GBP186,000.
"Since the start of the new calendar year the group has seen an improved performance from all its offices, with more client activity and contractor demands. Management will continue to implement tighter controls, forecasting and operational efficiencies," the company said in the statement Monday.