15th Mar 2016 08:50
LONDON (Alliance News) - Healthcare communications and public relations firm Huntsworth PLC on Tuesday posted a much narrower pretax loss for 2015 as it completed a substantial portion of its restructuring and returned to like-for-like revenue growth.
Huntsworth said its pretax loss for the year to the end of December was GBP39.8 million, compared to a GBP59.5 million loss booked in 2014. Huntsworth undertook a major review over the course of 2015, replacing management teams in a number of its agencies and refocusing its businesses to ensure they are well positioned for the future.
Stripping out the restructuring costs, profit still fell, down to GBP13.3 million from GBP16.0 million, as central costs increased 5.5% amid the reshaping of the business.
Revenue rose to GBP168.4 million from GBP164.7 million. Like-for-like revenue grew 1.5% in the year, while the Huntsworth Health division, now its biggest sales generator, saw like-for-like sales grow 14%.
Huntsworth will pay a final dividend of 1.25 pence per share, meaning its total dividend payout will be flat at 1.75p.
"These full-year results show Huntsworth returning to modest growth led by Huntsworth Health which delivered double-digit revenue growth and is now the largest part of company. After a year of significant change, Huntsworth is now well-positioned to see the benefits of the restructuring flow through to its results in the coming year," said Chief Executive Paul Taaffe.
Huntsworth shares were up 0.6% on Tuesday morning to 42.00p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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