BusinessCorporate FinanceWhitehead Mann in recovery

Whitehead Mann in recovery

Recruitment specialist Whitehead Mann is expected to end its financial year strongly today when it reports final results

Analysts expect the company to report revenues just shy of £40m as it begins
to reap the benefits of restructuring and a strong market for finance
recruitment.

Despite the robust financial recruitment market – one of Whitehead Mann’s
strongest areas – the company has endured a difficult 12 months. But analysts
said that the recruitment consultancy has begun to recover.

The company was expected to post a small loss today, but nevertheless show a
return to profitability over the last quarter of the year ended 31 March 2006.
The group has been greatly helped by a boost in financial recruitment activity
flowing from the City.

One year ago, the company reported a loss of £19.6m and was forced to
strengthen its balance sheet with a £13.1m share placing as part of a major
restructuring.

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