StockMarketWire.com - Recruitment business RTC scrapped its dividend after its annual profit slumped 51%.

Pre-tax profit for the year through December dropped to £0.87 million, down from £1.76 million year-on-year.

Revenue fell 14% to £81.4 million, though net cash increased to £1.9 million.

'2020 was a year like no other in our history,' chief executive Andy Pendlebury said.

'Given the seismic impact of the closure of large parts of our economy I believe our results are extremely respectable and our cash position significantly enhanced.'

'Although, as we publish our accounts, we continue to wait for the government to confirm its exit plan, we believe there are many reasons to feel hopeful about the group's prospects.'


At 8:56am: [LON:RTC] RTC Group PLC share price was 0p at 35.5p



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