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FINANCIALS: Activity levels remain elevated, says Harvey Nash

Thu, 5 Jun 2014
International executive and professional services recruiter Harvey Nash says that demand for its services “continues to improve” in its key markets.

In its interim management statement, covering 1 February to 4 June 2014, the company says “activity levels remain elevated, although there is variation in the pace of that improvement across the markets in which the group operates”.

The statement continues: “On a like-for-like basis, in the first quarter compared to the corresponding period in the previous year, revenue was 12% higher (15% on a constant currency basis, gross profit was 2% higher (6% on a constant currency basis) and operating profit was 12% higher (17% on a constant currency basis).”

The company says “demand for permanent recruitment is strong in the US, UK and Hong Kong, and there are continuing signs of improvement in Sweden and Finland, although Norway remains weak.

“Demand for permanent recruitment also remains weak in mainland Europe, however there it is offset by robust demand for contractor services. In the US, demand for offshore services is picking up, offsetting lower demand for contracting as a result of the swing to permanent recruitment.”
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