Hydrogen Group on track to meet FY expectations after cutting costs

20th Jan 2015 17:09

Recruitment group Hydrogen Group said it was on track to meet full-year expectations, after reporting an improved trading improvement for the second half of the year.Fee income fell in the second half, but cost reductions and a focus on the firm's core operations ensured an improved performance over the second six months of 2014 and the firm said it expects its result for the year ended 31 December to be in line with forecasts.Hydrogen said the restructuring of its business would result in a one-off charge of £2m, with administrative expenses expected to fall by £4m from the corresponding period in 2013 as a result of the restructuring.On Tuesday, Hydrogen shares closed down 4.76% to 70.00p.