DRS Data & Research Services reported an 8.2% drop in overall revenue, despite a solid performance from its education business, as non education revenue plummeted over 50%.
Group revenue fell to £13.62m in the first 10 months of the year from £14.83m a year earlier.
Its education business performed well with revenue increasing by 2.6% to £12.3m in the ten months to the end of October compared to the year before. Education revenue accounts for 90% of DRS' revenue compared with 81% last year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Non-education revenue slumped 54.4% to £1.3m due to their being no large census contracts this year, the group explained.
DRS said that as a result of the continued contribution from the education business and the strong control of costs, the directors expect the results for the year to the end of December to be in line with market expectations.
--
cj
-
Going part-time could leave a £58,000 hole in your pension: how to plug the gapThere are many reasons for switching to part-time work, but some savers don’t consider the impact on their pension until it is too late
-
Three bargain investment trusts to add to your portfolioThese three investment trusts are bargains compared to their net asset value (NAV), but one fund analyst thinks the deep discounts are unwarranted.
