Matchtech Group sees signs of ‘gradual recovery’
Engineering, science, technology and professional recruiter Matchtech Group says it has seen some “signs of a gradual recovery” as net fee incomes have risen in a trading update for the year ended
Engineering, science, technology and professional recruiter Matchtech Group says it has seen some “signs of a gradual recovery” as net fee incomes have risen in a trading update for the year ended 31 July 2010.
The update reveals:
FY 2010 H1 | FY 2010 H2 | FY 2010 Year | ||
| £m | £m | £m | ||
| Net Fee Income ’NFI’ | ||||
| Contract | 9.6 | 10.3 | 19.9 | |
| Permanent | 2.9 | 3.2 | 6.1 | |
| Total | 12.5 | 13.5 | 26.0 | |
| Business Mix | ||||
| Contract | 77% | 77% | 77% | |
| Permanent | 23% | 23% | 23% | |
The update says: “Around 50% of the group’s NFI comes directly and indirectly from across many parts of the public sector, much on long-term contracts. The board is mindful of the potential impact on the group of changes to public expenditure after the government’s forthcoming comprehensive spending review.
“With our private sector markets proving relatively stable and some signs of a gradual recovery in the second half, the board remains confident about the group’s prospects over the medium term.”
Matchtech is to release its preliminary results for the year ended 31 July 2010 on 7 October, at which point it will provide a further update on trading.
