Nakama Q3 hit by weak Asia performance

21st Jan 2019 08:55

(Sharecast News) - AIM-listed recruitment consultancy Nakama said on Monday that its third-quarter performance was hit by weaker-than-expected trading in Asia.During the third quarter, the company's Asian trading performance fell below management's expectations, generating less revenue than had been projected and materially affecting group profitability. As a result, it made a loss in Q3 and achieved breakeven for the first three quarters of the current financial year, having announced an interim pre-tax profit of £186,000 for the six months ended 30 September 2018.Still, the company's outlook was a little brighter. "Since the start of the new calendar year the group has seen an improved performance from all of its offices, with more client activity and contractor demands. Management will continue to implement tighter controls, forecasting and operational efficiencies."At 1550 GMT, the shares were down 26% to 0.96p.