Former TCS FD takes on new role at Redhall
THE former financial director of Town Centre Securities has taken on a new role at Redhall Group.
A former partner at EY, Chris Kelly joined the board at TCS in 2010 and it was announced in March he was leaving the Leeds-based property investor and developer by mutual agreement to pursue other career opportunities.
Today, Redhall, the Wakefield-based specialist engineering support services business, announced the appointment of Kelly as interim finance director after revealing that Chris Lewis-Jones is standing down as group finance director and company secretary.
In an update this morning, Redhall also said trading to date remains in line with the board’s expectations, but further delays are being experienced converting major opportunities into contract awards. Redhall said the board considers that the impact of these further delays will result in a deterioration in the performance of the group to a level below current market expectations but not materially so. The business said it still expects to report growth in revenues and underlying profitability in the twelve months to September 2014. It also said it has underestimated the cost of restructuring its nuclear division and finance operations by £870,000.
Redhall’s chief executive, Richard Shuttleworth, said: “The group continues to make progress in its trading. I am satisfied that we have now resolved the issues relating to legacy contracts and remain confident of the future.”
