FINANCIALS: Prime People’s performance in line with expectations

Global professional and technical recruiter Prime People is trading in line with expectations, according to an update released yesterday.

The trading update, covering the first half of the year, reveals the business has performed in line with company expectations during H1, with group net fee income (NFI) broadly in line with the same period of 2016.

Performance for the group’s UK business was broadly in line with expectations, with a modest increase in NFI on the same period last year, while the group’s international business witnessed a tightening of activity compared to the same period last year.

Before exceptional acquisition costs related to its acquisition of a majority stake in Hong Kong’s Command Recruitment Group, announced earlier this month, the group revealed it anticipates profit before tax for the period to be down 10% on the corresponding period of 2016.

However, the group says October trading in the region is in line with expectations and its international businesses are expected to contribute positively to full year results.

Interim results for the six months ended 30 September 2017 are expected to be released on 9 November.

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