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Recruitment and professional services company Parity said it had 'marginally exceeded' market expectations for the full-year following its decision to refocus the business around its core recruitment offering.
For the financial year ending 31 December 2021, revenue was anticipated to be 'slightly ahead' of the £47.6m target, net fee income in line with expectations of £4.1 million, and the company anticipated a modest adjusted earnings before interest, taxes, depreciation, and amortisation, or EBITDA profit, instead of an expected small loss.
'Over the last 3-6 months Parity has taken steps to flatten the management structure of the Group and refocus resources from non-core activities into its core recruitment solutions business,' the company said.
'The result is a material increase in customer-facing headcount that has begun to make an impact, improving customer engagement and performance.'