18th Sep 2018 10:52
LONDON (Alliance News) - Kellan Group PLC shares slumped Tuesday as the firm said it is considering whether de-listing its shares from trading is in the best interest of shareholders.
Kellan shares were trading down 50% at 0.35 pence each.
"The company will engage with shareholders to discuss the possible cancellation and seek irrevocable undertakings to this effect, if applicable," Kellan said.
Meanwhile, for the six months to June 30, the recruitment company posted pretax profit of GBP65,000 compared to a GBP21,000 loss in the same year ago period on the back of revenue increasing to GBP10.8 million from GBP10.3 million.
The firm's net fee income however remained flat at GBP3.2 million.
Looking ahead, Kellan said it is confident trading for the rest of the year will be in line with the board's expectations.