Beleaguered property consultant Chesterton International has reported more bad news with further losses of £6.5m.
Chief executive Lorraine Baldry said: “Obviously the results are not as great as we would like, but we flagged many of these losses last year, and we are now set to go forward.”
The group, which turned over £33.9m in the six months to December, up only £0.6m, said it had lost £2.9m in trading, and was hit by £3.6m in restructuring costs.
It also said that its agency income fell by 41% in London and 13% outside London.
The £3.6m of restructuring costs included £1.5m in redundancies and £0.6m for the relocation of staff in Bracknell.
Michael Holmes, who was sacked as chief executive in September, is currently suing he group for wrongful dismissal. He is seeking damages of £462,000.
