Alexander Hall prunes overheads

Alexander Hall cut back on overheads and staff numbers to halve its losses in 2010, its latest accounts reveal.

The brokerage filed its 2010 accounts at Companies House last month, which show it made a pre-tax loss of £540,578 – an improvement on its 2009 loss of £1.4m.

The firm reduced administrative expenses from £5.4m in 2009 to £4.5m in 2010, while its turnover improved slightly, from £3.8m to £4m. It also cut its average monthly number of employees by 18% from 95 in 2009 to 78 in 2010.

Alexander Hall declined to comment.