Openwork joins APFA

Openwork posted its first ever profit as a standalone trading company in 2012, reversing a loss of more than £13m in 2011. The network, launched in 2005, made an unaudited profit of £600,000 in 2012, overturning a £13.3m loss in 2011. The previous losses were due largely attributable to one-off costs associated with the Retail Distribution Review and legacy IT issues, the network said. The results marked the culmination of a steady move towards profitability over the last few years from initial trading losses totalling £55m in its first two years. Chris Hannant, policy director ...