Skilled Group has suffered a full-year loss of nearly $17 million due to writedowns linked to its impending takeover by rival labour hire business Programmed Maintenance Services.

Skilled reported a net loss $16.7 million for the 2014/15 financial year, compared to a $44.2 million profit in the prior year. The 2014/15 result was skewed by a $60 million writedown to Skilled’s fair value ahead of the proposed Programmed takeover. Skilled’s underlying profit, which excludes the writedown, was…