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The recently appointed CFO of Altran Technologies has said that the firm will recover from the damaging last 12 months, saying “When you are in a hole, you stop digging.”
The firm has seen its shares fall by 95% last year amid restated interim results, alleged accounting irregularities, and a profits warning.
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| Consulting-Times E-zine
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It went to court last month to fight a whispering campaign sparked by its acquisition of Arthur D Little in the US two years ago, where it sued three former managers for theft, breach of trust, corruption and blackmail.
He admitted that “In the past there was a greater concentration on growth rather than on generating cash and this has to change.” To reverse the decline he plans to increase the firm’s utilisation rate, from 85% to 90%, mainly using staff turnover rather than having to resort to redundancies.
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