LONDON (ShareCast) - RTC Group’s profits in the first half declined as the support services company worked at expanding its operations.

Group operating profit from continuing operations fell to £66,000 from £262,000 the prior year while profit attributable to equity holders dropped to £5,000 from £201,000.

Yet revenue from continuing operations rose to £23.39m from £20.45m.

"During the six months ended June 30th 2013, we have taken the opportunity to establish, by internal promotion, an enlarged and enhanced quality middle management team in the ATA Recruitment UK division in order to permit future expansion in staff numbers and business volumes,” said Chairman, Bill Douie.

“This has involved the replacement of high performing consultants with new intake and has, as expected, reduced the performance in this division in the six months to 30 June 2013. Accordingly, group profits in the period are modest at £5,000 as we build for the future.”

The company, which provides recruitment and conferencing services, said it believed that it would be prudent to use its financial resources to recommend a dividend at this time.

RD

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