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SYDNEY, May 1 Asia Pulse - Julia Ross Recruitment Ltd (ASX:JRR) yesterday warned its 2002/03 profit would slump to about one-quarter of the previous year's result, as it reported a small loss for the third quarter.
The recruitment agency said it now expected to report a net profit of between A$1.2 million (US$750,000) and A$1.3 million (US$812,500) for the financial year, compared to A$5.9 million (US$3.69 million) the previous year.
It still planned to pay a final dividend, although the amount was not yet known.
"The difficult market environment, due in part to international uncertainty, has led to businesses reviewing strategies and cost structures including personnel costs," the company said today.
"For the recruitment industry this situation translated into reduced demand for permanent and temporary staff and a tightening of margins."
In February, Julia Ross said second half net profit was expected to exceed its A$1.44 million (US$900,000) interim result - which would amount to a full year 2002/03 profit of at ...