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30 Jun 2016 07:00
30 June 2016
AGM Trading Update
A resilient performance in line with the Board's expectations
At today's Annual General Meeting of Harvey Nash Group plc, the technology focused recruitment and offshore services group, Julie Baddeley, will give the following trading update to shareholders:
"The Group has traded in line with the Board's expectations in the first four months of the financial year, under challenging conditions, achieving an 8% increase in gross profit compared with the same period in the prior year (4% on a constant currency basis*).
"The directors are encouraged by this performance. While mindful of economic uncertainty following the EU Referendum and an associated lack of visibility, we believe that Harvey Nash, with its robust balance sheet and strategically defensive mix of contracting, offshoring and high proportion of non-sterling earnings, is well placed to deliver further resilient performances through uncertain times."
4 months to 31 May 2016 | |||
Gross profit | Gross profit growth %** | ||
Geography | % of total | Actual | Constant currency* |
UK & Ireland | 38% | 0% | 0% |
Mainland Europe | 39% | +11% | +4% |
United States | 18% | +24% | +17% |
Asia Pacific | 5% | +5% | +1% |
Total | 100% | +8% | +4% |
4 months to 31 May 2016 | |||
Gross profit | Gross profit growth %** | ||
Service line | % of total | Actual | Constant currency* |
Permanent recruitment | 38% | +3% | -2% |
Temporary / Offshore | 62% | +12% | +8% |
Total | 100% | +8% | +4% |
* 2016 figures re-translated at 2015 rates.
** Continuing operations.
Enquiries: | ||
Harvey Nash | Albert Ellis (CEO) and Richard Ashcroft (CFO) | Tel: 020 7333 2635 |
Hudson Sandler | Cat Valentine / Michael Sandler | Tel: 020 7796 4133 |
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