UK IT resourcing agency Lorien Plc has reported a net loss for the six months ended 31 May, 1999, of 1.57m pounds ($2.53m) on revenue that rose 2.8% to 69.9m pounds ($112m). This compared to a net profit for the equivalent period in 1997/98 of 1.43m pounds ($2.3m).
The pre-tax loss was identical to the net loss, while the loss per share was 8.7 pence ($0.14), compared to earnings per share of 8.0 pence ($0.13) in the equivalent period of the previous fiscal year.
The company said its revenue in its core business (contract and permanent recruitment) grew 13%, to 52.1m ($83.6m), during the period, which exceeded its expectations, but predicted a flat second half, as clients put development work on hold over the Millennium. Meanwhile, revenue in its smaller consulting operation dropped 19% during its first half, to 18.8m ($30.1m).
