AIM-listed Murgitroyd posted a slight decline in earnings per share (EPS) for the half-year ended November 30th after increased sales costs partly offset a nine per cent rise in revenue.

The European patent and trade mark attorney group said that, year-on-year, basic EPS declined 0.1p to 18.6p on profit of £2.28m (2012: £2.27m).

Revenue for the period rose to a record £2.28m from £17.6m a year earlier, while the cost of sales climbed to £8.14m from £6.62m in 2012.

The dividend was on par with the 3.75p offered for the same period a year ago.

The revenue increase seen during the first half was largely driven by its US activities, which Murgitroyd said continued to be a growth market for the company. Turnover generated from US clients rose by 33% year-on-year, to £6.1m, which represented more than 30% of total turnover for the first time.

Group Chairman Ian Murgitroyd said: "The evolution of Murgitroyd continues as the group responds to a price-sensitive marketplace for professional services. Our commitment to ongoing investment in business development, improvements in systems and processes, and people continued in the half year, providing us with a robust platform upon which we can deliver sustainable long-term growth.

"We are confident in our strategy and in our ability to continue to deliver further positive results in a challenging economic climate."



Recruitment specialist SThree said full-year profit slipped amid weaker economic confidence and as the group invests in new territories.

The communications and technology hiring agency said group gross profit for the year to December 1st 2013 fell 3.4% to £192.8m. Profit before tax and before exceptional items dropped 17.8% to £20.8m, while revenue declined to £634.3m from £577.5m.

SThree, which closed several offices in the UK and Europe in 2013 and reduced its support staff as part of a restructuring plan, reported restructuring costs of £10.8m for the year. New offices were opened in Calgary, Tokyo and Berlin.

"The reduction in profitability reflects weaker economic confidence for much of the year, a temporary decline in consultant productivity as the group invested in sales headcount and the cost of continued investment in new territories," the group explained.

Basic earnings per share before exceptional items fell to 9.1p from 14.1p before.

Chief Executive Gary Elden said: "While the group performance reflects the mixed market conditions which we encountered during the year, it was also a period of significant strategic progress during which we laid the foundations for our future growth."

A total dividend of 14.0p has been offered, unchanged from the year before.

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