Harvey Nash sales momentum continues

5th Jun 2014 08:40

- First-quarter trading in line with company guidance- Demand improves in most key markets- Recruitment remains weak in mainland EuropeRecruitment group Harvey Nash said first-quarter trading has been in line with company expectations as demand continues to improve in its key markets.Like-for-like (LFL) revenue increased 12% in the first quarter or 15% on a constant currency basis. Gross profit rose 2% higher while operating profit climbed 12% from the same period a year earlier. "Demand for permanent recruitment is strong in the US, UK and Hong Kong and there are continuing signs of improvement in Sweden and Finland, although Norway remains weak."Mainland Europe also remains weak, it added, however there has been robust demand for contractor services. In the US, demand for offshore services is picking up, offsetting lower demand for contracting as a result of the swing to permanent recruitment, the group explained in a company statement. Harvey Nash reiterated its intention to recommend an increased final dividend of 1.974p per share, up 10% on the prior year.CJ