LONDON (ShareCast) - Property recruitment firm Prime People (LSE: PRP.L - news) said profit for the year slumped 70% as challenging conditions
continue.
Profit before tax fell to £0.73m for the year ended 31 March 2009 from £2.43m the year earlier. Gross fee income for the period fell 14.9% to £20.67m.
Managing Director Peter Moore said, "Our lower profitability this year reflects continuing demanding trading conditions in our sector."
Looking ahead he added, "Our strong cash position and experienced management team can be expected to provide the opportunity of an overall increase in future market share."
No dividend final payment has been recommended.
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