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Although the general recruitment industry seems to be back in action – a swathe of quoted companies such as Imprint, Harvey Nash and Michael Page have reported outstanding results in favourable markets — the opposite rings true in the City outplacement services game.

Followers of bombed out AIM player Fairplace Consulting will have noted a further 21 per cent slide in the price to 19p on news that trading remains weak. In his gloomy AGM statement, chairman Mark Allsup warned operating losses for the half-year to December would top the losses made last year. No early upturn in the market is foreseen.

Meanwhile another AIM counter, on-vehicle weighing systems business PM Group, perked up 6.5p to 251.5p on a bullish AGM announcement. Chief executive Geoff Mountain insists revenues are burgeoning in the bulk haulage market and the company is seeing a surge of interest from local authorities for its products for the waste management market. In the tool hire sector, full-listed market leader Speedy Hire forecast further growth and acquisitions as it unveiled a 16.1 per cent interim profits spike to £13 million. Boss Steve Corcoran now wants to pursue untapped markets. He says central and local government is the main client for major new works in the strong and stable construction market, and the company is winning more business in new markets such as oil, steel, specialist manufacturing and industrial services.