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Prime People’s net fee income rises over 20% YoY

Prime People Plc ("Prime People" or the "Group") has announced its audited results for the year ended 31st March 2016.


The group reported that gross fee income had risen from £16.65m in 2015 to £20.75m in 2016. Net fee income rose 20.16% to £12.28m in 2016, from £10.22m in 2015.


Profit before tax has increased from £1.44m in 2015 to £2.15m in 2016; profit after tax has increased from £1.13m in 2015 to £1.7m in 2016.


The group reported that its fully diluted earnings per share rose from 9.01p in 2015 to 13.52p in 2016. Its total dividend for the year stayed constant at 8.84p.


Peter Moore, managing director of Prime People, said, "I am pleased to report a strong set of results with Net fee income up 20.16% and profit up 50.35% for the full year founded on our continued drive to control costs and increase productivity across the Group.


“There were a number of 'standout' performances within U.K. property.  In particular, contract and technical recruitment generated much improved NFI and our recently established residential team has made a strong start. It was also heartening to see international divisions, markedly Hong Kong, exceed expectations in testing local conditions.


“As previously advised, following a second interim dividend of 3.09p paid in March 2016, the Board does not anticipate recommending a final dividend (2015: 3.09p). This will result in a total dividend payment of 8.84p for the 2016 financial year (2015: 8.84p).


“Current activity is resilient across the group and, while we expect some slowing in our mature vertical markets in the short term, we are confident the business is well positioned to exploit available opportunities."




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