MSB International Plc, the UK-based IT recruitment specialist, has reported net profits for the year to January 31 down 8.3% at 5.4m pounds ($8.6m) on revenue that rose 48.5% to 191.3m pounds ($307.9). At the pre-tax level, profits were down 10.5% at 5.4m pounds ($8.6m). Earnings per share fell 10% to 27 pence. MSB says results were hit by 3.5m pound ($5.6m) exceptional charges, mainly related to restructuring costs. The company reckons to have a 4% share of the 5bn pounds ($8bn) UK contracting market. Looking ahead, directors say that once Y2K has been successfully negotiated growth will return as investment in strategic business systems resumes.
