29th Jan 2021 14:12
Prime People PLC - London-based recruiter - Reports pretax profit of GBP97,000 in the six months ended September 30, down substantially from GBP1.7 million profit a year previous. Revenue in the period was GBP8.7 million, down 34% from GBP13.2 million. Declares no interim dividend for the period, compared to 1.8p per share a year before.
Says it remained profitable through a "combination of timely and decisive cost savings realised across the group to reflect expected levels of business and aided by our diversity, both by sector and geography, as well as taking advantage of governmental support where possible."
It added: "All our markets have been and continue to be impacted by Covid-19, and, whilst we experienced reasonable progress in the UK following the easing of the lockdown imposed on March 26, levels of activity did not recover to pre Covid-19 levels. This was also the case in Asia, where the region experienced a very similar contraction in trading to that in the UK. We had anticipated a gradual improvement in trading in the second half to March 31, 2021. However, the significant new lockdown measures imposed or being imposed around the world could see progress slow."
Current stock price: 56.00 pence, down 6.7% on Friday
Year-to-date change: down 9.7%
By Zoe Wickens; [email protected]
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