FINANCIALS: Harvey Nash ahead of expectations
Fri, 1 Jun 2012
Harvey Nash, the global professional services group, says the group performed ahead of budget in the three months ending 30 April this year.
In its interim management statement, the company says that revenue rose 18% and gross profit was up 6% compared with the same period last year. The increase in revenue was driven by a greater proportion of flexible labour services in its business mix, says the company.
Operating profit, stated before non-recurring items and the investment made in two new offices, was 10% ahead of last year.
The company says that trading in its US markets “remains encouraging with good growth seen in the first quarter”. However, as anticipated, “UK and European trading is more modest”.
Albert Ellis, chief executive of Harvey Nash, says: "We are delighted with the first quarter financial results given the economic uncertainty right now. We are also very pleased with the acquisition of Talent-IT which when merged with our existing successful Harvey Nash business, the merged entity will be the clear market leader in technology recruitment in the profitable Benelux region."