Recruitment firm looks to Vietnam for workers
HARVEY Nash, the recruitment specialist is planning to cash in
on skills shortages in the information technology and internet
markets by importing workers from Vietnam.
The move comes through new links with a company in Hanoi
and is designed to give the group a further edge in providing
managers and employment services for companies in the new
media arena.
David Higgins, the chief executive, disclosed his new source for
talent as he announced figures which showed a 30 per cent
jump in turnover to £93.2 million over the six months to 31
July. After taking account of heavy investment in an internet
portal and increased interest charges, profits before tax rose
from £5.32 million to £5.75 million. The interim dividend is being
increased 14 per cent to 2.4p.
Mr Higgins said the growth reflected the move into new
recruitment services as well as expansion into the United
States and the Far East.
The group was spending up to £10 million on acquiring the
management services group, Impact Executives, which has a
branch in Hong Kong.
Mr Higgins added: "We are accelerating our investment in new
regions and developing new services which will better position
the group to meet the increasing global service requirements of
our clients."
Despite its international ambitions, the vast bulk of its profits
continued to be earned in its domestic market.
The results helped the shares to increase 12.5p to 927.5p.
By John Phelps - The Scotsman - October 11, 2000.
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