A passion for people …. produces record results

A passion for people …. produces record results

National recruitment and business services group HR GO plc has unveiled record year end results for 2010.

Figures just released to the city demonstrate the strength of the business, delivering a 26.4% increase in group turnover at £92.6M with profits before tax of £1.58M.

A combination of increased sales in the provision of temporary & permanent labour, coupled with tight cost controls across the group, has contributed to the strong performance.

“I am delighted that the results are so good.” commented Chris Harvey, HR GO plc Managing Director.

“It is thanks to our 53 year heritage and the efforts of my talented Colleagues, who have worked so hard with their Clients and Candidates. I am confident we have laid solid foundations to expand even further and look forward to continuing growth in 2011.”

HR GO plc continues to invest heavily in its IT infrastructure, with the rollout of a fully integrated solution for all its businesses. Improvements in both the back office functions and management of the extensive databases within the group companies will reap dividends in the coming year.

Recently a further six branches have been opened, to service the increase in demand and more locations across the UK will be opened in the near future.

In addition, the national sales team continues to expand, with a focus on securing further large blue chip contracts. Investment in a web-based master vendor software solution allows for efficient client operating, managed from multi-site locations.

The corporate structure for the group continues to be simplified, with a number of businesses merging their trade within HR GO Recruitment Limited. Potential acquisitions to grow both profits and shareholders’ value, is also under consideration.

As a measure of its confidence the business will pay a dividend to shareholders of 0.75p per share and, if the circumstances are correct, will increase this in the future.

Jack Parkinson, Non-Executive Chairman commented “Whilst we consider the economic recovery to be fragile, we remain optimistic about the future and expect that the initiatives we have undertaken in the past two years will enable us to further grow both our turnover and our bottom line profit.”