30th Sep 2015 08:38
LONDON (Alliance News) - Recruitment and outsourcing company Harvey Nash Group PLC said is pretax profit edged lower in the first half due to it booking some exceptional costs, but its revenue and adjusted pretax profit both increased and it hiked its interim dividend.
The company said its pretax profit for the six months to the end of July was GBP4.1 million, slightly down on the GBP4.2 million it posted a year earlier, as it registered GBP400,000 in costs related to its review of its German outsourcing business. Adjusted pretax profit, stripping out those costs, rose to GBP4.5 million from GBP4.2 million.
Harvey Nash said its revenue in the half was up to GBP337.0 million from GBP355.9 million a year earlier, helped by a very strong performance in the US, strong growth in net fee income in Asia and the UK and Ireland, and solid underlying results in Europe, though revenue from the latter was held back somewhat by the weak euro.
The company said it would hike its interim dividend to 1.49 pence per share, up from 1.36p a year earlier.
Harvey Nash said its adjusted profit in the first half was in line with its expectations, and trading since the end of the half has been in line with the first. Despite increased macroeconomic uncertainty thus far in the second half, particularly around the slowdown of the Chinese economy, the company said it remains confident on its outlook.
Shares in Harvey Nash were untraded on Wednesday, having last traded at 97.50 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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