Permanent staff demand profits Harvey Nash

Demand for permanent IT staff is pushing up the profits of recruitment specialists like Harvey Nash, which reported revenues were up 27 percent in the year to 31 January 2008.

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Demand for permanent IT staff is pushing up the profits of recruitment specialists like

“The current year has started well with robust trading in the first two months. Overall, our business in the US, UK, and Europe are ahead of budget and the previous year,” Albert Ellis, CEO of Harvey Nash said in announcing the results. Cross-selling and boardroom relationships are attributed with being the basis of the results. “The cross-selling of other services represents over 20 per cent of total revenue,” it states. Hanaghan concurs, describing the strategy as “doing a good job”. Harvey Nash has also developed a close relationship with the Confederation of British Industry (CBI).

Expansion has also been beneficial. In 2007, Harvey Nash acquired Alumni AB in Sweden and Rescon in Ireland. Both companies are leading executive search and IT recruitment specialists.

Offshore services continued to perform well and expand. In 2007 it acquired SilkRoad Systems in Vietnam and took a major stake in US company TechDiscovery.

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