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Harvey Nash: U.S. Revenue Up 7%

April 30 2012

U.S. revenue at Harvey Nash Group plc rose 6.8 percent to £36.7 million (US$57.6 million) in its fiscal year ended Jan. 31, 2012. The U.K.-based firm provides information technology staffing and services through its U.S. operations headquartered in Wayne, N.J.

U.S. gross margin narrowed to 25.9 percent from 26.5 percent in the previous year.

The U.S. recruitment market has been very challenging over the last two years, the company reported. However, in the final quarter of the year business sentiment began to improve and jobs and employment is once again increasing, it said.

Global revenue for Harvey Nash rose 26.2 percent to £533.0 million (US$836.4 million) in the fiscal year ended Jan. 31. Full-year gross margin narrowed to 14.7 percent from 16.2 percent. Profit for the year rose 37.0 percent to £5.9 million (US$9.3 million).


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