Archial has posted a loss of £3.4 million and revealed it has shed more than 100 staff between December 2011 and 2012
More from: Archial posts loss of £3.4 million
The company, which is owned by Canadian behemoth Ingenium Group and which ranks 20th in the AJ 100, reported a pre-tax, gross profit of just under £8 million.
However that was sunk by £11.3 million in administration costs, leading to the net loss of £3.4 million. When last year’s losses of £4.6m are carried over the total deficit for the firm is just over £8 million.
The 2012 loss comes as the outfit posted a drop in turnover of £10.3million. In 2011 the firm lost £4.6million on a revenue of £17.9 million - suggesting substantial efficiencies have been made during the 12 months between the two sets of figures.
The accounts, which have been filed at Companies House, also show that in 2012 it employed an average of 153 staff down from an average of 266 staff in 2011.
In January last year (2012), Archial announced 15 per cent of its UK workforce was likely to be made redundant as part of plans to integrate the company with its Canadian owners (AJ 09.01.2012).
Archial refused to comment.