Matchtech increases headcount, reducing profit before tax

Technical staff provider Matchtech, one of the UK's leading recruitment solutions specialists today announced a 13% rise in its half year revenues, to 141.1 million pounds (2010: £125.4m).Its profit before tax, however, was reduced to £2.3m (2010: £4.4m), reflecting accelerated headcount investment. Thus, the number of contractors on placement rose by 9% to 5,200 from 2010's 4,750. Cash flow from operations was reduced by -39%, to 3.6 million pounds.Of note, the company highlighted the solid performance put in by its Engineering, Environment, and Information Systems & Technology divisions. Commenting on the results, George Materna, Chairman of the Group said, "We have continued to invest in our core Technical business and growth in certain sectors is strong, especially Information Systems & Technology".The interim dividend of 5.0 pence per share will be paid on 21 June 2011 to those shareholders on the register at close of business on Friday 3 June 2011.Shares of Matchtech closed today at 209 pence, down by -1.6% on the day, in London trading.ab Made Tech