Headhunter wary after leap
12 April 2012
REED Executive, the recruitment operator, reported a near-40% leap in profits but remained cautious on the economic outlook for the year. The company, seen as one of the bellwether stocks for the British economy, said it had suffered 'much more difficult trading conditions' than last year.
Like-for-like sales in the first quarter of this year, while 10% down on the same period a year ago, were better than those in final three months of 2001.
Operating profits in the year to 28 December increased to £14m from £10m a year earlier on sales of £373.7mj, up from £315.7m. The pre-tax profit figure was down as a result of a £1.8m one-off hit from the costs of demerging its healthcare business. The total dividend stays at 6p.
