LONDON: Holding company Huntsworth is nearing the end of a rebudgeting process that will result in a one-time restructuring cost of about $4.7 million, the company said Tuesday.

The UK-based company said in November that it was seeing various year-end cancellations because of economic uncertainty and that it would take cost-cutting measures in response. In Tuesday's pre-close trading statement, Huntsworth said the budget process was “in line with reducing the cost base."

"We had some project cancelations in Huntsworth Health US, ...