World Careers Network plc reported unaudited earnings results for the six months ended January 31, 2015. For the period, the company reported turnover of £3,503,799 compared with £4,184,899 for the same period last year. Operating profit was £286,726 compared with £1,002,756 for the same period last year. Profit on ordinary activities before taxation was £309,369 compared with £1,023,023 for the same period last year. Profit on ordinary activities after taxation was £247,369 or 3.99 pence diluted per share compared with £794,023 or 10.26 pence diluted per share for the same period last year. Net cash inflow from operating activities was £729,730 compared with £404,961 for the same period last year. A decrease in turnover of 16% was accompanied by a small increase in overheads of 1%. The decrease in profits is largely attributable to a reduction in value on the renewal of a major contract (without the anticipated compensating growth elsewhere), the ongoing investment in resources to develop the business and, to a lesser extent, the margin it earn from reselling third party tests.

The company expect profits to continue at significantly lower levels than last year as it makes further substantial investments in the business particularly in the areas of sales, marketing, product development, delivery and customer success, all of which are aimed at generating future long term growth.