The e-business and software services company, Parity Group, cited
difficult market conditions following the Y2K slowdown as the
reason for its reduced revenues during the first six months to June
30 2000.
According to the company's interim results, group turnover fell
by £14m to £153.6m in 2000, while pre-tax profit decreased from
£10.3m in the first half of 1999 to £7.1m.
Parity's Software Services division, which includes IT
resourcing and recruitment companies Parity Resources (UK), Parity
Selection (UK), Parity EuroSoft (mainland Europe) and Parity
Teltech (USA), recorded a turnover of £103.7m in the six months to
30 June, compared to £126.5m in 1999. Pre-tax profit was also down
from £8.4m last year to £5.74m.
The division said it had seen a recent upturn in Europe after a
quiet first half, as customers focused again on "quality and
service". It also noted a strong growth in demand for permanent IT
staff in all markets.
