Harvey Nash expects growth in US and European markets to drive continued progress, according to an interim management statement for the financial year ending 31 January 2012, covering the period from 1 February 2011 to 30 May 2011. 

The statement reveals the group performed ahead of budget during the first quarter ended 30 April 2011 with revenue up by 23% compared to the same period last year and with gross profit up by 22% and profit before tax up by 32%.

“As previously reported in the group’s full year results on 28 April 2011, mainland Europe reported the strongest growth, the US remained robust, whilst UK growth rates were modest. We therefore continue to be confident that growth from the US and Europe will drive further progress in the next quarter.

Harvey Nash CEO Albert Ellis, says: “Our growth in profits and revenues, strong cash generation and ability to pay a healthy dividend are all the result of the market share gains that we achieved during the recession. The board is confident that this momentum will continue both in the current year and in the future.”