Tavistock Investments returns to profit following reorganisation

Tavistock Investments has reported an operating profit of £1.2m for the year ending March 2021, following a loss of £5.5m the previous year.  Last year the business undertook a reorganisation project, which cost £1.2m, to reduce its overhead costs by £750,000 in a full year. The project was funded, in part, by a decision to furlough almost one in four employees, lower rents negotiated with landlords and a payment holiday on £1.4m in outstanding debt. Within its investment business, T...