Cash in the bank and in hand rose to £66.9 million ($104.5 million), of which half was free cash.
But global revenues have continued to slide. In the third quarter they fell 11.2% to £109.3 million ($170.8 million) from £123.1 million ($192.4 million) in the same period last year.
Pre-tax losses were £15.4 million ($24 million) compared with a £98 million ($153 million)loss in the third quarter of 2001.
Chairman John Matthews said: "By 1 January 2003, we expect to have contracted half of next year's budgeted workstation revenues. Nonetheless, these remain difficult times for the business services sector.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
