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Harvey Nash (HVN:LSE), the specialist recruitment and outsourcing group, in a trading statement released yesterday stated that revenues during 2009 first half trading will be roughly in line with the previous year.
It expects operating profits will exceed 2 million Pounds for the period but it believed gross profits will fall by 5%.
The group says that â€œthe decline in demand for recruitment services has been partially offset by the performance of its outsourcing business.â€?
Albert Ellis, chief executive, told the Financial Times â€œwhat is different about us is that we have a clear strategy, and what we have considered many years ago is that recruitment is also affected by globalisation, particularly in IT. Weâ€™ve accepted it, and by doing so it has become our strength as a European company by offering onshore recruitment and offshore services from Vietnam.
â€œNot only are we recruiting for companies, we are providing services in IT outsourcing. We donâ€™t draw the lines in a traditional sense; we can be more comprehensive with offering a fuller service,â€? added Mr Ellis.
The company will announce its interim results on 30 September 2009.
Following the announcement yesterday, Harvey Nashâ€™s shares increased 3.9% to 39.5 pence.