Interim management and executive search company Hexagon Human Capital announced an increase in profits for the six  months ending 30 September compared to the same period in 2007. 

Net profits rose to £872,000 compared to £653,000 in 2007 on revenues of £19.9m (£11.1m 2007). Net fee income increased 45% to £12.6m  from £8.7m for the same period in 2007, according to the company’s interim results.

Jonathan Wright, Hexagon’s chief executive, told Recruiter that the company was in a strong position to weather the downturn.

Wright said that demand for senior interim executives, the sector in which the company focused, was holding up well. “Clients are not making large-scale redundancies in our space, these tend to be in the mid-range,” he said.

Wright said he was “comfortable with” analysts’ predictions of net fee income of £24m, and £6.7m EBITDA (earnings before interest taxes depreciation and amortisation) for the full year.