Indeed Online PLC cuts directors pay
The online conveyancer Indeed Online has announced they will be making significant reductions in the salaries and fees of their Directors.
Following disappointing second half results for their conveyancing business, Runnett & Co. the business have made a number of operational changes in order to cut costs.
In a trading update the company was fairly upbeat about the coming months where they expect to see some pick up.
The statement said that: “The online business continues to make steady progress in terms of customer numbers although it remains lossmaking.”
They have indicated that a review of the businesses will take place in the next few weeks; this is not expected to lead to a sale.