Intellego makes first ever profit

8th Aug 2011 09:12

Training consultancy group, Intellego, announced its first ever profit in the year to the end of March.It posted a pre-tax profit of £146,000 and said it had improved gross margins to 71% while reducing current liabilities by £974,000. Sales increased by 8% to £2,006,000. The firm's balance sheet was also strengthened by Company Voluntary Arrangements for Intellego Holdings Plc and its subsidiary Intellego Group Limited, which were agreed in the second quarter of its financial year.Intellego said it had seen improvement in the financial performance of each segment of the business, which it put down to "structured day-to-day management, reduction of costs, and focusing the team on putting in place processes that achieve higher margins".In a statement, the firm's management said it expected the business to trade in the current financial year considerably ahead of last year.