26th Feb 2016 08:43
LONDON (Alliance News) - Recruiter Harvey Nash Group PLC on Friday said its gross profit increased in the year to the end of January, with trading in line with market expectations.
Gross profit for the group rose 7.0% over the year, held back slightly by weak currencies but broadly improving across its geographies.
UK & Ireland gross profit rose 4.0%, though Mainland Europe fell 2.0% and Nordics gross profit was flat for the year, with the latter pair held back significantly by weak currencies. Gross profit in the US, however, rose 25%, while Asia-Pacific gross profit was up 41%.
Harvey Nash expects to post an adjusted pretax profit for the year in line with market forecasts.
"The group has delivered a strong trading performance in line with market expectations. Whilst the US economy helped lift gross profit in that market by 25%, new areas of growth in Asia delivered a remarkable 41% growth in net fees, albeit off a lower base," said Chief Executive Albert Ellis.
Shares in Harvey Nash were up 5.2% to 75.1913 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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