Global staffing provider Harvey Nash Group plc, a UK-based staffing provider with US operations, reported in a “trading update” today that revenue for the six months ended July 31 rose to £527 million (US$692 million), up 24.9% from the same period in the prior year. The company attributed the increase largely to increases in contract recruitment, managed services and IT outsourcing as a result of both organic growth and acquisitions; permanent recruitment has been broadly flat.
Gross profit rose 11.2% to £51.7 million (US$67.8 million).
Harvey Nash this month announced it struck a deal to be acquired by its largest shareholder. The deal values total shares in Harvey Nash at £98.7 million (US$127.9 million). The acquiring firm is The Power of Talent Ltd., which is controlled and managed by DBAY Advisors Ltd.
Shares in Harvey Nash closed down 0.76% today in London to £130.00. It had a market cap of £94.4 million.