Dual boost for recruitment_2

Staffing shares jump after strong results

Strong results from two recruitment companies have sent staffing shares soaring today.

Northern Recruitment, which recruits for the public sector and call centres in the north of England, has also increased its profits.

The listed firm recorded pre-tax profits of £1m in interim results for the six months ended in December.

This was an increase of £400,000 compared with the same period in 2002. Turnover also increased from £10.4m to nearly £11m.

Chief executive Lorna Moran (pictured) said: "We have confidence in our ability to deliver further progress in the second half and a positive result for the year as a whole."

The recruitment and training firm Quantica is profitable after suffering during the downturn, according to full year results released today.

Although turnover dropped from £26m to £25m, the firm made profits of £800,000 after losing £3.4m in 2002.

Quantica incurred exceptional costs of £600,000 from restructuring its training division, which ate into profits in the full year ending in November 2003.

Chairman Phillip Bennet said the strong performance was likely to continue into 2004.

Shares in Quantica jumped two ticks to 57.5p each and stocks in Northern Recruitment leapt by 9.5p to £139.5p each.

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