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TMP executive search revenues fall

Commissions and fees totalled $15.9m, compared to $22.9m in the same period last year.

However the division made a small operating profit of $21,000, down from $339,000 last time.

Overall, third quarter profits at TMP were $14m, down from $25.6m last year.

Andrew McKelvey, the chairman, said results had been affected by slow economic activity and sluggish European labour markets.

Revenues at Monster, the internet recruitment site, were down by 40%, though it remains the firm's most profitable division.

TMP said last month it plans to spin off its executive research and e-resourcing businesses into a separate public company.

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