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The recovery from the dotcom crash seems to be recovering and spreading. Spring Group, an IT recruitment company returned a half year profit for the first time in 5 years.

According to Spring, business has been good across the board, margins are boosted and assignment length has increased.

A long term contract reputedly worth £50m is with Barclays Bank has been extended by 2 years. A second bank will generate another £100m of business.

Growth came from organic and acquisition sources.

Pre-tax profit amounted to £1.6m in the six months to June 30th (£3.9) losss. Turnover rose to £229m (£146m)

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