StockMarketWire.com - WH Ireland reported an operating loss of £1.6m in its annual results for the 16 months to the end of March and announced that current CEO Richard Killingbeck would be stepping down at the end of July to pursue other opportunities.

The loss was due to changes to the business, including the change in the reporting period, although revenue rose 7.5% on an annualised basis.

Phillip Wale, who has been Head of Fixed Income (Europe) at Cantor Fitzgerald Europe for the last two years, will replace Richard Killingbeck who has been in the position for six years.

"We have made considerable progress continuing the transformation of WH Ireland. However, as we previously stated, this process of change has not been without its challenges given market conditions and the scale of change that we have been implementing; this has resulted in losses being incurred last year - but a much clearer path to profitability is now ahead of us in the new financial year and beyond," said Tim Steel, Chairman of WH Ireland.



At 9:58am: [LON:WHI] W.H. Ireland Group PLC share price was -11p at 117p



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