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UK – Matchtech profits edge up +8%

07 February 2013

Technical and engineering recruiter Matchtech (MTEC:LSE) has seen strong client demand in the six months to January 2013 with gross profit (net fee income) rising +8% to £18.5 million, the firm reported on Thursday.

Matchtech said that trading was in line with expectations. The firm projects continued growth from both its contract and permanent businesses within the technology and engineering markets.

Gross profit generated from the firm’s contract unit jumped +14% to £13.2 million.  But permanent fees fell -5% to £5.3 million. “Whilst there is strong demand for permanent staff across the Group, subdued candidate confidence in the job market and counter offers from incumbent employers has held back growth,” said Matchtech.

In early trading, the company’s share price was up +2.3% to 273.76 pence, a +29.4% increase from a year ago. The firm has a market value of £62.72 million.

The firm places staff in four key sectors – engineering, science & medical, built environment and information systems & technology. It is among the 30-largest staffing companies in Europe, according to research by Staffing Industry Analysts.


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