This is the last City page of what has undoubtedly been a traumatic year for shares in the recruitment sector as even the most cursory glance down our share table of this time 12 months ago will show.
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Predicting the timing of economic recovery is a tricky business. As Paul Venables, finance director of Hays, commented following the company’s latest trading statement: “It’s hard to predict when recovery will come. We are seeing no signs of recovery, and we wouldn’t expect to.”
Staffline and Prime People both issued trading updates during the last period. Prime People said that trading had been hit hard by the downturn in the commercial property market and warned that results for the full year would be “significantly below market expectations”.
Despite the global downturn in the second half of the year, international multi-sector recruiter SThree has announced improved results for 2008.
In the group’s preliminary results for the year ended 30 November 2008:
- Revenue rose 20.8% to £631.5m (2007: £522.7m)
- Gross profit (Fee income) was up 19.8% to £218.9m (2007: £182.7m)
Gilbert: new opportunities
Tim Gilbert, managing director-UK for marketing recruiter EMR, has left the company after 111/2 years.
High-street travel operators continue to witness growth in the recession, according to travel recruiters.