The chief executive of Link Group says the group is at the “tail end” of an arduous simplification strategy as a proposed exit from the United Kingdom pulled the company deeper into the red.

The superannuation administration and share registries company crashed to a loss of $410 million after heavy writedowns on its troubled UK business. It was the second December half result in a row toshow big losses, after it reported an $81.6 million loss a year earlier.