A NEW team heading one of Guernsey’s biggest financial services companies is helping turn around a financial loss – after ‘shortcomings’ in its acquisition strategy and organisational structure.
PraxisIFM chairman Andrew Haining noted how the senior management team, led by Rob Fearis – in place since early 2020 – had quickly drawn lessons from the previous three years and implemented a ‘considerable number of changes’. The measures should see a significant improvement in profit and cash conversion during 2020 and into the future. ‘The unforeseen external impact of Covid-19 globally has affected all of our operations in the last quarter of the year,’ Mr Haining also said.
https://guernseypress.com/news/business/2020/10/05/praxisifm-group-moves-to-turn-around-a-27m-loss/