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Prime People swings to losses in pandemic year

By Josh White

Date: Friday 23 Jul 2021

Prime People swings to losses in pandemic year

(Sharecast News) - Specialist recruitment company Prime People reported revenue of £17.8m in its final results on Friday, down from £23.99m year-on-year, as its net fee income slipped to £10.93m from £15.52m.
The AIM-traded firm swung to an operating loss before tax and impairment of £0.12m for the year ended 31 March, from a profit of £1.96m in the prior year.

Fully-diluted losses per share before impairment came in at 0.3pm, compared to earnings of 13.28p in the 2020 financial year.

The board declared no dividend for 2021, compared to the 1.8p per share distribution it made to shareholders for the 2020 reporting period.

"Our financial year to March has been most extraordinarily challenging for the majority of businesses and we were no exception," said managing director Peter Moore.

"I am very grateful to our teams around the world who have, despite all the hurdles, challenges and separation, worked incredibly hard to provide exceptional service to our customers.

"I am confident that our significant investment in modern globalised systems and well over 20 years of experience will see us make good progress this year."

At 0922 BST, shares in Prime People were down 8.91% at 58.3p.


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