Prime People starts cost cutting as interim figures slump
24 October 2008
Prime People, the recruiter that works in international real estate, infrastructure and commercial property, is set to deliver disappointing half-year figures as a result of difficult market conditions.
In an update for the period to September 30, the company said overall net fee income was £6.7 million down from £7.1 million last year. Operating profit is also expected to be less than last year figure of £1.07 million. However, it said it intended to maintain an interim dividend of 1.35 pence per share.
Prime blamed challenging conditions in the UK for most of its trading woes and said that because second half figures were also likely to be impacted, it was now taking action to reduce costs.
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