RDGC Ridgecrest Plc

TIDMNAK

RNS Number : 8057T

Nakama Group Plc

01 April 2016

Nakama Group plc

(the "Group")

Trading Update

Since the appointment of Rob Sheffield as Group CEO in September 2015, the Group has been through significant change as a result of a holistic review of the business. Over the past 6 months we have made changes to the infrastructure of the organisation in all geographies, IT, operations, support and sales processes and staff. We have implemented sales training globally and management development programmes in all our divisions which is expected to bear fruit in the future. This new growth strategy has involved management team changes and the business will continue to increase sales headcount across the Group. We have continued to grow our global network by making a significant investment in New York. The Board believes that, in order to grow the business, the restructuring and the investment are crucial to the future of the Group. The effect of this is reduced profitability during the period.

Markets have been inconsistent and we have seen a softening in the contracting market in the UK which has affected performance here; this is being addressed. It will result in Group turnover for the year to 31 March 2016 being below expectations.

The Directors are confident that the changes made in the last financial year will show results in the coming year, and they believe that the business is well positioned for growth in the future. The results for the year ended 31 March 2016 are expected to be announced in July 2016.

ENDS

Enquiries:

 
 Nakama Group plc      www.nakamaglobal.com 
  Ken Ford, Chairman    Tel: 07884 313191 
  Rob Sheffield, CEO    Tel: 0061 498 127 326 
 WH Ireland Limited 
  Paul Shackleton        Tel: 020 7220 1666 
  Liam Gribben 
 Peckwater PR          Tel: 07879 458 364 
  Tarquin Edwards       tarquin.edwards@peckwaterpr.co.uk 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTJBMTTMBTJTIF

(END) Dow Jones Newswires

April 01, 2016 02:00 ET (06:00 GMT)

Ridgecrest (LSE:RDGC)
Historical Stock Chart
From Oct 2024 to Nov 2024

Ridgecrest (LSE:RDGC)
Historical Stock Chart
From Nov 2023 to Nov 2024