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Harvey Nash US revenue up 20%

April 30 2013

Harvey Nash Group plc, a London-based provider of information technology staffing and services, reported U.S. revenue rose 20.0 percent to £45.6 million (US$71.8 million) in its fiscal year ended Jan. 31. The firm’s U.S. operations are headquartered in Wayne, N.J.

The first half of the year was strong, buoyed up by improving economic indicators and a broad recovery in investment in technology, the company said. In the fourth quarter, however, demand for recruitment was affected by increasingly volatile business sentiment linked to political deadlock and fiscal cliff fears.

U.S. gross margin narrowed to 24.1 percent from 26.0 percent in the previous year.

Global revenue for Harvey Nash rose 11.6 percent to £594.7 million (US$937.6 million) in the fiscal year ended Jan. 31. Full-year gross margin narrowed to 13.9 percent from 14.7 percent. Profit for the year fell 5.5 percent to £5.6 million (US$8.9 million).


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