29 March 2019 – trading update
The data and technology professional services business has announced that a framework contract for the placement of staff with the Scottish government is not being renewed. Revenue will continue to be generated from existing placements it has made under the framework contract for the next two financial years but there will be no new placements. This has been low margin business and will not have a significant impact on profits, although revenue will be around 10% less than expectations. Final results are due out on 16 April and ahead of this announcement we keep our BUY rating.