15th Nov 2013 08:54
LONDON (Alliance News) - Matchtech Group PLC Friday said that trading in the first quarter of its new financial year has been in line with expectations.
Matchtech said that its net fee income was up 13% to GBP11.1 million in the first quarter ended October 31 on a like-for-like basis, meaning assuming that net fee income from its recent acquisition of Provanis was included within the 2012 comparative period.
Contract net fee income rose 14% to GBP8.0 million, while permanent fees were up 11% at GBP3.1 million, Matchtech said.
The holding company, which works with contract and permanent staffing businesses, said that demand for contract recruitment continues to grow, as the UK economy move further into recovery mode. It said that it is now seeing the first signs of permanent candidate confidence returning.
"We look forward with confidence to the year ahead," Chairman George Materna said in an annual general meeting statement.
Matchtech shares were trading 0.6% higher Friday morning at 560.75 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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