Core-Asset to unveil record profits after cost cutting
Betsy Williamson: ‘proud of the team’
Cost cutting at recruitment firm Core-Asset Consulting helped turn a steep loss into a record profit in its last financial year.
Accounts for the year to the end of June 2019, due to be lodged with Companies House, will show the Edinburgh financial services specialist increased turnover by around 45% and delivered post-tax profits in excess of £500,000.
Reports in other media earlier today that the figure was for the 2017/2018 year were inaccurate. The company made a loss that year of £88,550 following a period of “unremarkable recruitment activity” in 2016/17 when it made a profit of £70,457.
Increased activity and cost-cutting helped set the conditions for a return to profitability and growth.
Founder and managing director Betsy Williamson, said she was proud of what the team had achieved. “Delivering profits of this scale a year after recording a small loss really puts it into perspective.
“There was never any doubt we were going to deliver outstanding results. In fact the only reason we were in the red in the previous year was because of the scale of our investment in the business to make this happen.
“That was the only loss we have posted since I launched the company and there was never any doubt that it was simply a stepping stone on the path to our best ever year. We are now in better shape than we’ve ever been to meet the challenges the financial sector, in particular, is facing.”