News

Harvey Nash shrugs off tough conditions

28 November 2008 07:35:00

Recruiter Harvey Nash's revenue rose 34% with profit before taxation up by 23% in the three months to October compared to the previous year.

All three of the Group's main geographic areas, US, UK & Ireland and mainland Europe increased revenues in the quarter compared to the same period last year, the group said.

"While demand for permanent staff has been affected by the global financial crisis, the group is continuing to see increased demand for its IT outsourcing and offshore services, " it added.

"The gross profit attributable to contractor, outsourcing and offshoring services is longer term in nature with increased visibility. For the first nine months of the year it comprised 59% of total gross profit. We expect the proportion to increase to over 60% in the final quarter," Nash added.

"The current market conditions provide the group with excellent opportunities to grow our blue-chip global client base and leverage the Group's success in the outsourcing and off-shoring market. Accordingly, the Board remains confident of further progress for the year ended January 2009," the statement concluded.

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