Harvey Nash profits halved

RECRUITMENT and outsourcing firm Harvey Nash yesterday said its first-half pre-tax profits had fallen by more than 50 per cent as the economic downturn saw clients slash their demand for staff.<br /><br />Profits before tax fell to &pound;1.8m, from &pound;3.9m a year earlier, on flat revenues of &pound;200m. The group said its UK revenue fell by nearly five per cent to &pound;31.7m as all of its markets, except the public sector, suffered.<br /><br />Harvey Nash added that executive search and permanent recruitment were hit the hardest, with Ireland the worst affected.