Finance chief departs Fife firm

Fife furniture group Havelock Europa has commenced a search process for a new finance head after it announced that Donald Borland will resign as chief financial officer and company secretary in April.

The interior design company, which is based in Kirkcaldy, also said that recently appointed head of finance Bruce Middleton will be responsible for all finance matters.

Mr Borland, who was previously finance director with Edinburgh-headquartered construction and housebuilding group Miller – only joined Havelock on April 26 last year.

Announcing Mr Borland’s departure, Mr Ormrod said.”On behalf of the board, I’d like to thank Donald for everything he has done in his time in the role. He leaves with our best wishes for the future and I look forward to announcing a replacement at board level in due course.”

Shares in the company, which reported a pre-tax loss of £2.6m for the first six months of last year, were down 2.4 per cent at 4.00 pence per share on Tuesday.

When announcing its recent results the firm said it expects to continue to be in the red in the second half despite a “substantial improvement” in overall trading outlook.