Management consultancy and human resources group Beaufort sold its 66% stake in Techniques for Change for £596,000. Chief executive Harry Cowan explained that the subsidiary, which runs practical classroom courses on a variety of 'general change' management topics, was 'no longer core to our strategy'. He added that we are 'concentrating on building a focused international business consultancy group'. Back in May, Beaufort issued a profit warning on the back of losses in its internet businesses and recent preliminary figures illustrated its problems. In the year to 31 March, it made a pre-tax loss of £3.59m after exceptionals, compared with a £341,462 profit last time out. Disappointingly, continuing sales came in lower at £4.96m (£5.32m). Since March, the group has re-focused on its core consultancy and executive search activities. Furthermore, it is currently raising £1.34m net through an open offer of 274m new shares at 0.6p per share. The funds are to be used to accelerate development, to expand its service offering in its European operations and to reduce bank debt. The board is also planning a name change to Beaufort International.