30 Jul 2008 07:00
30 July 2008
Prime People plc
AGM Trading Statement
Prime People plc (AIM: PRP.L), the international built environment recruitment specialist, is holding its Annual General Meeting today at 11.00 a.m., at which its Chairman, Robert Macdonald, will make the following statement about current trading.
"Total Net Fee Income ("NFI") for the group in the first three months of the current financial year is comparable with the equivalent period in 2007.
In the UK, we do see a noticeable softening of demand for professionals operating in the transactional and investment parts of our sector. However, there remains a solid core of recruitment activity underpinned by the long-term nature of major infrastructure projects and commercial property developments.
Overseas, our business has continued to develop well with NFI up by 45 per cent contributing 33.4 per cent of total Group NFI in the first three months of the current financial year (22.5 per cent comparable period in 2007).
All our offices are being actively managed to reflect prevailing regional economic conditions and opportunities. Whilst business in the UK is challenging the Board believes that the Group, subject to the economic conditions, remains on course to make progress in line with expectations for the year as a whole."
-Ends-
For further information please contact:
| Prime People | 020 7493 5689 |
| Robert Macdonald, Executive Chairman | |
| Peter Moore, Managing Director | |
| Hogarth Partnership | 020 7357 9477 |
| James Longfield Anthony Arthur | |
| Arbuthnot Securities | 020 7012 2000 |
| Richard Tulloch | |