Start-up costs eat into Witherslack profits

Specialist education provider the Witherslack Group reported a 17% leap in turnover from £25.5m to £29.8m for the year ended 31 August 2013. After net administrative expenses of £26.7m (2012: £23.4m) were taken into account, the company achieved an operating profit of £3.1m (2012: £2.2m). Following interest and similar charges of £3.9m (£3.5m), Witherslack made a pre-tax loss of £744,000 (2012: £1.4m).

You must be a CM Subscriber to view this content.

Subscribe Now »