Prudency responsible for Harvey Nash profits

Fri, 26 Feb 2010

IT and finance recruiter Harvey Nash says prudent management of the businesss has resulted in predicted total revenue of £375m in a trading update for the year ended 31 January 2010.

The group also predicts profit before tax and non-recurring items of not less than £4m, while its net cash position at year end was £5m.

The statement adds: “In what has been a challenging year for many organisations, particularly those in cyclical sectors, the group has remained profitable while increasing dividend payments. It has a sound balance sheet and has no long-term debt. This is in no small part due to prudent management and the group’s broad portfolio of services.”

Preliminary results for the year ended 31 January 2010 will be announced on the 30 April.