9th Nov 2016 09:57
LONDON (Alliance News) - Recruitment company Prime People PLC said Wednesday its UK recruiting business income declined in the first half of the year, offset by strong growth in its Asian businesses.
AIM-listed Prime People reported a pretax profit for the six months to September 30 of GBP760,000, down from GBP1.1 million for the same period the year prior. Revenue increased by 13% to GBP11.5 million from GBP10.2 million.
Net fee income for the company in the period rose by 1.9% to GBP6.3 million from GBP6.2 million. The UK arm of the company saw income down 13% to GBP3.4 million from GBP3.9 million, however Asian net fee income increased by 37% to GBP2.6 million, boosted by strong performances in Hong Kong and Singapore.
Prime People maintained its interim dividend at 1.75 pence.
"We have reasonable expectations that the UK businesses will perform in the second half year at levels comparable to the first half. Sentiment in the UK property sector has improved but there is uncertainty for the sector in the medium term. In Asia we expect similar performance from our businesses in the second half and increased opportunities for growth in the medium and long term," said Robert Macdonald, executive chairman of Prime People.
Shares in Prime People were down 7.7% at 90.00p Wednesday morning.
By Adam Clark; [email protected]
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