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27th Feb 2014 by Joanna Cockle

Rubicor release half year results - HY14

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Rubicor Group Limited (ASX:RUB) today announced a statutory net profit after tax attributable to equity holders of $86.0 million, as compared to a net loss of $12.2 million in the previous corresponding period. This result included a gain on debt forgiveness of $88.6 million, resulting from the restructure of its debt facilities in July 2013. On an underlying basis, there was a net loss after tax of $0.6 million compared to a loss of $1.5 million in previous corresponding period.

Rubicor’s CEO Mr Kevin Levine, stated, "The first half of the year again provided challenging trading conditions for the recruitment industry, however despite this volatility Rubicor achieved further stability in its results, attributable to an increase in temp margins and a significant reduction in operational costs." Read More