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Sidlin is a chartered accountant with extensive experience in the human resources sector. He was previously group finance director at Penta Consulting Limited and MBA Michael Bailey Associates Plc, both IT and Telecoms recruitment companies.

Before that that he was an audit and IT partner in a city firm of chartered accountants.

AIM-listed outplacement firm Fairplace (LSE:FCO), soon to be renamed Savile plc, was formed in 1992 and delivers bespoke career transition and talent management services.

The group reported results for the year to 30 June 2007 showing that turnover from continuing operations increased 4 per cent to £5.07 million from £4.87 million driven by increasing talent management and coaching revenue. Fairplace said that the outplacement market remained tough in an economy of full employment. Competition between the three largest suppliers meant that the market remained price sensitive.

Fairplace said it had successfully reduced expenditure in the UK by £409,000 (8 per cent). It significantly reduced expenditure on accommodation by moving to a serviced office model, which gave the benefits of both flexibility and reduced overhead.

Operating profit, before amortisation and impairment of goodwill on continuing activities was £240,000, compared to a loss of £360,000 in 2006, driven by improved margins and effective cost control. Loss after tax was £520,000, compared to £880,000 in 2006.

This has included the sale of investment in Fairplace Consulting Italy Srl, in May this year at a significant loss, and the write off of the remaining goodwill in Quantum Development and Outplacement Services Limited. 

The company booked improved operating cash inflow of £80,000, compared to £70,000 in 2006. Loss per share narrowed to 5.30p from 13.08p last year.

Executive chairman Mark Allsup left Fairplace after fifteen years in September and was replaced by Jonathan Cohen.

Related links

• Fairplace plc