Trading Update

RNS Number : 5829G

Prime People PLC

24 October 2008

 



Prime People Plc

('Prime People' or the 'Company')

Close Period Trading Update

Prime People plc, the international real estate, infrastructure and commercial property recruitment specialist, provides the following trading update for the six months ended 30 September 2008. The Company plans to release its interim results on 21 November 2008.

Overall net fee income ('NFI') in the first half to 30 September 2008 was £6.7 million compared to £7.1 million for the same period last year.  It is anticipated that operating profit will be marginally less than the comparable period last year (2007 - £1.07 million).  The Board plans to maintain an interim dividend of 1.35 pence per ordinary share (2007 - 1.35 pence per ordinary share).

Whilst more difficult market conditions are being experienced generally, this is most noticeable in the UK. Our International operations contributed 33% of NFI in the first half of the current financial year compared to 22% in 2007.

In light of the very limited forward visibility particularly within the UK business and in anticipation that market conditions are likely to continue to impact activity levels in all regions in the second half of the year, we have taken action to reduce costs and continue to monitor and seek to improve our operating efficiencies.

-Ends-

For further information please contact:

Prime People Robert Macdonald, Executive Chairman Chris Heayberd, Finance Director	020 7493 5689
Hogarth Partnership James Longfield Anthony Arthur	020 7357 9477
Arbuthnot Securities Richard Tulloch	020 7012 2000

 

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