Formation swings into profit

Formation Group has reported an operating profit from continuing operations for the six months ended 28 February 2017 of £0.048m, compared to loss of £0.084m for 2016.

Revenue for the period was £20.184m from continuing operations (2016 £10.178m).

Formation said that it is trading in line with management's expectations and the Board remains confident about the Group's prospects for the remainder of the year.

No interim dividend is being declared.