5th Feb 2019 11:39
LONDON (Alliance News) - Staffing and consultancy business Parity Group PLC said Tuesday it has appointed a new chief executive officer as the company expects to deliver revenue growth in 2018.
Parity said it has appointed Matthew Bayfield as CEO with current chief Alan Rommel moving to chief operating officer.
The company said it expects to meet its revenue growth target for 2018 after being "greatly encouraged" by the opportunities from its higher-margin data consultancy services.
As a result, the company's Parity Consultancy Services division will be restructured to focus more closely on this market.
In 2017, Parity recorded pretax profit of GBP1.7 million on revenue of GBP83.8 million.
Parity also said it will increase its investment in the firm, including in management, marketing and brand development.
The company said it expects to remain profitable during the period of increased investment, though adjusted pretax profit will be lower in 2019 than in 2018.
Shares in Parity Group were up 0.7% Tuesday at 6.80 pence each.
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