Harvey Nash eyes international expansions as revenues rise
Albert Ellis
Albert Ellis
Harvey Nash is seeking to expand its international operations in areas less affected by austerity measures following rising revenues recorded in its results for the six months ended 31 July 2010, according to chief executive Albert Ellis.
The group’s results reveal:
| 2010 H1 | 2009 H1 | Change | |
| revenue | £199m | £200m | down 1% |
| gross profit | £32.0m | £31.7m | up 1% |
| operating profit | £2.8m | £2.0m | up 39% |
| profit before tax | £2.6m | £1.8m | Up 45% |
| net cash | £4.8m | £0.7m | Up £4.1m |
Ellis told Recruiter: “Everyone is surprised at the strength of the recovery in the UK. It seems the UK has led parts of Europe out of recession.
“The Nordic area is very strong. We have acquired a business in Norway and we have expanded into Finland. We see those businesses in Nordic that are relatively free of the public borrowing requirements that other parts of Europe have.
“We see growth in Germany, the Nordics and the UK. Southern Europe and the Mediterranean countries will lag.
“There is growth in Asia. We have grown in Vietnam and we are looking at the possibility of local recruitment in Vietnam, which is something we have not done to date.”
