27th May 2015 09:13
LONDON (Alliance News) - IT services company Parity Group PLC on Wednesday said its finance director has stepped down with immediate effect and said it is now in "good shape" amid plans to review its cost base over the coming year.
Parity said Finance Director Alastair Woolley has stepped down from his role in to pursue other interests. He will remain with the company until the end of June to help with the transition of his responsibilities to interim Chief Financial Officer Paul Bergin.
Parity said it has started the search for a long-term replacement for Woolley and will provide a further update once this search is concluded.
In a separate statement on Wednesday, Executive Chairman Philip Swinstead said Parity is now in "good shape" with its Parity Professionals and SuperCommunications divisions both trading profitably.
"Following on from the creation of these two divisions, we are now looking at the overall group cost structure to maximise efficiency and move towards becoming a cash generative business by year end," added Swinstead.
Shares in Parity were untraded on Wednesday, having last traded at 8.75 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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