29th Nov 2013 09:04
LONDON (Alliance News) - IT and recruitment business Harvey Nash Group PLC Friday said revenue for its third quarter ended October 31 increased 19% on last year, as it traded in line with expectations with "continued momentum."
In an interim management statement for the period August 1 to November 28, the company said recruitment recovery is taking hold in the US and UK and it expects Europe to follow.
"Whilst clients continue to favour temporary and contract recruitment, there are some positive signs of an improvement in permanent revenue," Chief Executive Albert Ellis said in a statement.
The firm said gross profit for permanent recruitment for the quarter ended October 31 was 11% higher than the previous year, while for the nine months ended October 31 revenue was 15% higher than than in the same period of 2012.
Harvey Nash said it had "tight control" of working capital, resulting in a much improved financial position compared with last year.
"The group is in excellent shape to benefit from an improving global economy in 2014 whilst leveraging its unique portfolio of services and strong brand to increase further its market share," Ellis said.
An interim dividend of 1.238 pence per share, up 10% on the prior year interim dividend of 1.125 pence for the six months ended July 31, was paid on November 22.
The stock was trading at 96.89 pence Friday morning, up 4.89p or 5.3%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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