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Harvey Nash profits halved
RECRUITMENT and outsourcing firm Harvey Nash yesterday said its first-half pre-tax profits had fallen by more than 50 per cent as the economic downturn saw clients slash their demand for staff.
Profits before tax fell to £1.8m, from £3.9m a year earlier, on flat revenues of £200m. The group said its UK revenue fell by nearly five per cent to £31.7m as all of its markets, except the public sector, suffered.
Harvey Nash added that executive search and permanent recruitment were hit the hardest, with Ireland the worst affected.