23rd Jun 2016 07:32
LONDON (Alliance News) - Prime People PLC on Thursday reported growth in profit in its last financial year as revenue grew on the back of a strong performance in the UK property division.
The specialist recruitment firm said its pretax profit in the year ended March 31 grew to GBP2.1 million from GBP1.4 million the year before, as revenue rose to GBP20.8 million from GBP16.6 million.
Prime People said results were boosted by its commitment to control costs and increase productivity across the group. Net fee income, which grew 20%, was driven by contract and technical recruitment in the UK property division.
Outside the UK, Hong Kong was the standout performer, Prime People said, while the Middle East also generated strong fee income, though Singapore performed slightly below expectations due to staff changes. Singapore finished the year strongly, however, and the company expects to see improved results from the country in 2017.
Prime People will pay a total dividend of 8.84 pence, flat year-on-year.
"Current activity is resilient across the group and, while we expect some slowing in our mature vertical markets in the short term, we are confident the business is well positioned to exploit available opportunities," Managing Director Peter Moore said in a statement.
Shares in Prime People were trading up 4.1% at 99.95 pence on Thursday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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