Member Article

Recruitment firm buoyed by temporary contract demand

Recruitment and professional services Group Harvey Nash is expecting to improve profits for a fourth successive year, despite what the firms says are “challenging market conditions.”

The Group, headquartered in London with offices in Manchester, Leeds and Birmingham, expects to increase revenue by 15% to £293m, and gross profit by 6% to around £41.

Falling demand for permanent recruitment levels was mitigated by “robust demand” for temporary and contract recruitment through the first six months of the year.

In June of this year, the Group announced the acquisition of Talent-IT BVBA, an IT recruitment and project business based in Antwerp, for €1.8m.

The move was said to underpin the Group’s organic growth, while the company’s US business reported the strongest performance, with profits expected to increase by more than 30%.

In a trading update, the firm said: “Strategically, the Group’s focus on the growing digital, mobile and social media technology markets, and its unique outsourcing and offshoring offering has resulted in an excellent financial performance so far and positions the Group well going into the second half.”

This was posted in Bdaily's Members' News section by Tom Keighley .