UK-based recruitment firm Prime People reported revenue yesterday for the six months ended 30 September 2018 of £12.57 million, an increase of 11.5% compared to £11.27 million last year.

Prime People’s overseas business, which includes a contribution from Command Recruitment, which was acquired last year, showed strong Net Fee Income (NFI) performance increasing to £4.13 million during the period compared to £2.31 million last year, and contributed 55.7% of group permanent NFI, compared to 42.2% last year. NFI for the UK increased marginally by 0.4% during the H1 period though revenue fell.

Revenue by region was as follows.

Looking ahead, the group stated, “Given the uncertainties of UK markets through to March 2019 and potentially beyond, we do not expect the second half trading to exceed the first half.”

“We expect underlying trading from our Asia offices to be comparable to the first half of this financial year,” Prime People stated. “The present focus for the group is managing the business costs in relation to revenue, improving productivity and increasing profitability. Notwithstanding the mixed economic picture in today’s markets, we continue to seek opportunities to create shareholder value.”

In trading yesterday, Prime People shares closed at £76.00, down 0.65% on the day. Based on its current share price the company has a market value of £8.95 million.