IT recruiter Spring Group posted a 52% rise in first-half pre-tax profit, for the six months to June 30 2008.  Profit before tax rose to £3.4m from £2.2m for the corresponding period in 2007.

Net fee income was up 45% from £23.4m in 2007 to £34m, while operating profit rose 110% from £1.6m to £3.3m.  Revenue jumped 31% to £250.5m from £190.5m in 2007.

Commenting on the results, Peter Searle, chief executive at Spring Group said: “The first six months of 2008 have seen the momentum from 2007 continue in the first half with a 52% increase in profits and a further improvement in gross margin. We have continued to invest in our leadership teams, offices and sales staff.

“We are not complacent about the apparent slowing of UK economic growth and falling consumer confidence. However, we are confident that we have a business which is robust and efficient enough to deliver sustainable profitable performance throughout the economic cycle and exploit growth opportunities as they arise.”

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