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TP Group PLC on Monday reported a widened pretax loss in a ‘challenging’ 2021.
The consulting firm widened its pretax loss to £8 million in 2021 from £3.3 million the previous year.
This came as the company's depreciation, amortisation, and impairment charges increased by £800,000 to £3.1 million in the year and its exceptional operating costs increased to £1.9 million from £300,000 the previous year.
Revenue rose by 14% to £44.3 million from £38.7 million. TP said its organic revenue growth was primarily driven by its long term framework contracts and programmes.
Shares in TP Group were down 20% at 1.50 pence on Monday morning in London.
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