FINANCIALS: NFI increases for Nakama, Prime People and Harvey Nash moves to AIM

Global recruiters Nakama and Prime People have both seen increases in net fee income for the last financial year.

Posting its results for the year-end to 31 March 2017, Nakama revealed in a statement this morning that its directors expect revenue for the period to be in the region of £22.5m, up from £21m in 2016, with a similar increase in NFI.

The group reported weaker trading in its contracting market, with margins hit by more clients using recruitment process outsourcing providers or their own in-house teams to source talent, resulting in the group focusing on core services and starting to diversify product and service offerings in core markets.

However, the group witnessed a gradual upturn in business towards the end of the financial year with its Australia and Hong Kong businesses performing strongly and trading in the first two months of this current financial year ahead of the corresponding period last year.

Meanwhile, Prime People’s audited results for the year ended 31 March 2017, reveal NFI increased from £12.28m to £13.1m, boosted by strong performances for its UK property recruitment division and Asia business, with gross fee income also up from £20.75m to £24.21m. However, operating profit for the year was £1.9m, down slightly on £2.15m in 2016.

Finally, technology, finance, HR, interim and digital staffing specialist Harvey Nash, who revealed ahead of its annual general meeting yesterday plans to hit the acquisition trail over the next year, revealed in a statement this morning its shareholders had approved its proposed move from the main market of the London Stock Exchange to be admitted to AIM (Alternative Investment Market).

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