Accordant Group has warned that its net profit for the March 2024 financial year is expected to be significantly lower than the previous year, as the company continues to grapple with a challenging trading environment.
The group cited a 9% decline in year-to-date revenues, attributing the impact to a much softer trading environment in the December quarter, which persisted into the final quarter of the year.
Accordant Group expressed cautious optimism for improved trading conditions in October 2023, but noted that the economic and trading environment remained more uncertain than anticipated.
The company also highlighted the potential impact of the government's cost-cutting measures on consulting and contracting.
It is worth noting that JacksonStone & Partners, Madison, Hobson Leavy, and Absolute IT have been affected to varying degrees, while AWF reported steady revenue growth.
See more
