Helphire reports profitable 12 months

by Richard Kilner

Story link: Helphire reports profitable 12 months

Helphire has released its preliminary results for the 12 months to the end of June, 2010.

The firm recorded an adjusted operating profit of £21.4m, substantially improved on the £4.7m made during the previous year.

Likewise, adjusted pre-tax profits were £13.9m, up from a loss of £5.2m in 2009.

A marginal after-tax profit of £3.6m was achieved, although this is a significantly better result than the net loss of £135.3m incurred last year.

During the course of the 12 month period Helphire reduced its debts by a further £77.5m to stand at £162m.

Group Managing Director Martin Ward responded to the results by saying that they reflected the continuing success of the firm’s recovery plan.

Ward stated that operating profit was in line with expectations and that the realigned business was well-positioned for profitable growth in the future.