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Spring Group PLC, a London-based information technology recruiting firm, posted net income of GBP2.0 million (US$4.0 million) in the first half of its fiscal year ended June 30, up 11.7% from GBP1.8 million in the same period last year.
Revenue at Spring fell 8.3% to GBP190.5 million (US$381.8 million) in the first half of the year fromGBP207.9 million in the same period last year. Gross margin rose to 12.3% from 11.1%.
Spring struck a deal in June to buy Glotel PLC for GBP27.2 million (US$54.4 million). Glotel is a London-based telecommunications and IT staffing company that generated 86% of its profit in the
Spring Group PLC
For the first half of fiscal year 2007 ended June 30, 2007, compared with the same period in the prior year.
Revenue: GBP190.5 million (US$381.8 million), -8.3%
Net income: GBP2.0 million (US$4.0 million), +11.7%