Source - SMW
Recruitment business Prime People suffered a 1.83% decline in group revenue to £11.27 million in the six months to 30 September as a result of weaker overseas divisions.

The company's like-for-like profit before tax fell from £760,000 to £700,000 and net fee income (NFI) dropped from £6.33 million to £6.15 million.

UK NFI increased from £3.4m to £3.84m but overseas NFI dropped from £2.93m to £2.31m.   Asia profit before tax was £260,000, down from £600,000, as a result of Chinese capital control policies, which resulted in reduced demand in the firm's core real estate market. 

The group said action has been taken to refocus business development activity and to address training needs. It expects an improved performance from the region in the second half of the year.

The business in Dubai experienced lower NFI of £190,000, down from £330,000, because of the slower than expected development of a new revenue stream together with staff movements.   


At 8:26am: (LON:PRP) Prime People PLC share price was 0p at 92.5p



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