Vantis post interim results

02/02/2010 Vantis post interim results

Interim results released by Vantis for the six months to October 2009 showed that operating profit on continuing activities before interest and tax was £3.6 million.

The firm also saw a 43 per cent increase in revenue from its Business Recovery Services (BRS) division which rose to £17.4 million - an increase on the 2008 figure of £12.2 million.

Chairman of the group Mike Wheeler stated that they had initiated a series of cost reductions, which would deliver improved results in the new financial year.

He said: "We expect further growth in BRS but the performance of the Business Advisory and Tax sector will be constrained until the UK economy improves."

It was stated by the organisation that a programme designed to cut expenditure and improve future operating performance had been introduced and that recruitment was ongoing as it attempted to strengthen its BRS service.

The tax advisory group recently announced that the liquidation and sale of FlightTech Distribution had been successful.

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