A24 concedes uncertainty on staffing

A24 Group Limited, the specialist staffing agency, in its financial statements for the year ended 30 June 2011 recorded a profit for the year after taxation of £3.5m against £7.5m in 2010. Group turnover was in fact up to £68.3m against the £65.2m to which it had fallen for 2010. However cost of sales also rose to £50.5m from £47.1m in 2010 and administrative expenses also rose to £13m from £8m in 2010. Gross profit was £17.7m compared with £18m in 2010 but profit on ordinary activities before taxation £4.9m (£10.4m for 2010).