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Harvey Nash revenue rises 32%

May 12 2009

Harvey Nash Group PLC, a London-based information technology staffing and services firm, announced revenue rose 31.8% year-over-year to GBP420.1 million (US$601.0 million) in its most recent fiscal year ended Jan. 31, according to a public filing.

The company said revenue in its U.S. operations, which includes Harvey Nash USA, rose 20.4% to GBP28.6 million (US$40.9 million) compared with GBP23.7 million in the previous year. Harvey Nash reported that executive recruitment was surprisingly strong, and that its focus on IT consulting and offshore services helped it in a challenging market.

Full-year gross margin narrowed to 16.5% from 18.4% in the previous year.

Net income rose 28.3% year-over-year to GBP6.9 million (US$9.9 million).

Harvey Nash Group PLC
For the full year ended January 31, 2009, compared with the previous year.
Revenue: GBP420.1 million (US$601.0 million), +31.8%
Net income: GBP6.9 million (US$9.9 million), +28.3%

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