PRP.L Regulatory News (PRP)

10 Oct 2007 07:01

Prime People PLC10 October 2007 10 October 2007 Prime People Plc ("Prime People" or the "Company") Close Period Trading Update Prime People plc (AIM: PRP.L), the international real estate management,infrastructure and property recruitment specialist, provides the followingtrading update for the six months ended 30 September 2007. The Group plans torelease its interim results on 23 November 2007. Overall, net fee income ("NFI") in the first half to 30th September 2007 is 45%ahead of the same period last year at £7.1m and first half profits areanticipated to be well ahead of last year despite ongoing investment in theGroup's overseas activities. This strong first half performance reflected good market conditions in the UKand internationally and the thirty percent increase in consultant numbersachieved last year and further hirings this year. Our international operationsare continuing to make further good progress with considerable investment ofresource showing signs of return. This is particularly notable in Dubai and HongKong, where the demand for our candidates continues to be very strong. Ourinternational operations provide a clear differentiator for the Group. Inaddition to targeting high growth markets they have enabled us to strengthen ourrelationships with international clients and provided additional sources ofcandidates for the Group's database. We continue to see strong demand both in the UK and internationally forqualified professionals across the sectors that we serve, with no indicationfrom clients that their recruitment plans are being impacted by currentconditions in the financial markets or the UK property cycle. In particular, thelong term nature of major infrastructure projects and current investment anddevelopment plans worldwide continue to provide us with a range of differentopportunities for the medium term growth of our business. We continue to explore opportunities to expand and strengthen our businessglobally through attracting individuals and teams that operate in our existingor related areas, in particular within our new revenue areas of architecture andhousing. Our full year expectations require firm growth in NFI but at a lower level thanassociated with the exceptionally strong first half conditions. The variednature of our markets in the UK, together with our growing internationalpresence therefore gives the Board confidence that the Company will continue tomake good progress in line with our full year expectations. -Ends- For further information please contact: Prime People plc 020 74935689Robert Macdonald, Executive ChairmanPeter Moore, Managing Director Hogarth Partnership 020 7357 9477James Longfield Arbuthnot Securities 020 7012 2000Andrew Fullerton/Ian Williams This information is provided by RNS The company news service from the London Stock Exchange