InterQuest pre-tax profit slumps 55%

Specialist IT recruitment firm InterQuest posted a 55% plunge in half year pre-tax profit as it battles against the economic downturn.Profit before taxation fell to £913,000 for the six months ended 30 June from £2m the same time a year before. Revenue fell 8% to £49.21m.Commenting on trading InterQuest noted, "The general economic outlook remains uncertain and trading during the summer months has been at similar levels to earlier in the year. We have taken speedy and decisive action during 2009 and as a result our businesses are now in the best shape that they can be to face whatever market conditions prevail in the short and medium term."Net debt was reduced to £1.4m during the six month period from £6.6m. A maiden dividend of 1p per share was paid to shareholders in June 2009.