RDF receives interest for troubled division

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    Date: Tuesday 08 Jul 2008

    LONDON (ShareCast) - IT services group RDF said it has not received any offers for its managed services business although it has got a number of expressions of interest.

    The group said the possible disposal of the division should have little direct effect on 2008-9 but is expected to enhance earnings over time.

    For the year to March, RDF swung into pre-tax losses of £40,000 versus profits of £1.1m last year on sales that increased 37% to £30.49m. Higher cost of sales and admin expenses impacted profits.

    The group said the financial year 2007-8 has been a mixed with its Recruitment Services division performing strongly but the Managed Services division suffering due to the credit crunch on one of its major clients.

    “In the last quarter of the financial year, the group returned positive results. However, the economic climate remains uncertain and your board does not expect the growth rates achieved in the last few years to continue on an organic basis,” said the group.

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