Reuters: Financial Services and Real Estate: UPDATE 1-Harvey Nash posts higher growth, sees recruitments stabilising

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Harvey Nash posts higher growth, sees recruitments stabilising Apr 30th 2012, 07:44 Mon Apr 30, 2012 3:44am EDT * FY pretax profit 8.5 mln stg * FY revenue 533 mln stg vs 422 mln stg last year * Says Q1 trading in line with expectations April 30 (Reuters) - British recruitment and IT services firm Harvey Nash Group said full-year profit surged 35 percent helped by strong growth in Germany, the Nordic region and the United Kingdom, and trading in the first quarter was in line with expectations. Rival Robert Walters reported a strong start to 2012 earlier this month with a 12 percent increase in net fees while Hays Plc posted higher-than-expected fees helped by strong growth in Germany. Michael Page International Plc, however, posted a slowdown in group fee growth in March. Harvey Nash had warned in February that profit this year could be lower if the ongoing uncertainty in the euro zone continued to weigh on executive recruitment globally. However, the company on Monday said that the permanent recruitment demand now appeared to have stabilised. "As a result, the board is pleased to report that first quarter trading is on track to deliver in line with current expectations," the company said in a statement. For the year, the company reported a pretax profit of 8.5 million pounds, up from 6.3 million pounds, last year. Revenue rose 26 percent to 533 million pounds, driven by double-digit increases in revenue in mainland Europe and the UK and Ireland. Shares of the company were trading flat at 0745 GMT on Monday on the London Stock Exchange. Link this Share this Digg this Email Reprints

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