StockMarketWire.com - UK and Asia focused recruitment consultancy Nakama posted a fall in first-half profit and said it was considering restructuring options.

Pre-tax profit for the six months through September fell to £20k, down from £186k on-year. Revenue fell 41% to £4.8m.

Nakama offset the fall in sales by slashing costs, including by reducing its headcount by 30% to 40 people.

The company added that its cash position was tight, caused primarily by debtor collection issues in Hong Kong.

'The first half has seen numerous challenges across the group,' chief executive Robert Thesiger said.

'However, I am encouraged with the results and resultant relative stability that the business is now displaying compared to the second half of 2018.'





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