News

Work sees profits 'materially' below expectations

11 November 2008 11:20:00

Marketing services firm Work Group anticipates that pre-tax profits for the year to end December will be materially below current expectations after the group's markets continued to weaken.

The group said it is taking steps to reduce costs; in particular headcount has been reduced and will reduce further before the year end. These actions are expected to achieve annualised cost savings of about £1m, with the associated one-off costs being charged in the current year.

"The company is financially sound and the board remains confident that the company can gain market share and be well positioned for when conditions improve," it said.

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