Matchtech to miss full year expectations

1st Feb 2011 10:44

Shares in technical staff provider Matchtech fell after it said that full-year profits are likely to fall short of expectations by about 20%. It said that the lower profits are due to a lower than expected contribution from its Professional Services division and increased investment. Revenues totalled £13.5m in the six months to January 31, up from £12.5m over the same period the previous year. Professional Services revenues totalled £1.8m, up from £1.3m."Whilst the UK economic outlook remains uncertain, Matchtech UK's trading environment remains steady, with good NFI (net fee income) growth anticipated in the second half of the current financial year compared with both prior half years," the company said.