Allemby Hunt increases turnover by a third

Allemby Hunt increases turnover by a third

Allemby Hunt is pleased to announce a 29% increase in turnover for the year ending August 31 2011.  Permanent Placements were up 24% with similar increases in other areas.  Despite significant investment in the company Gross Profit was up 16% to £936k.  Allemby Hunt established four new business units during the course of the year including a new office in Edinburgh and a Middle East business.  These new units are now contributing strongly to the performance of the company.  Established areas such as Corporate Governance and Banking were particularly strong in 2010/2011 while, in line with market conditions, Fixed Income was an under performer.  Allemby Hunt’s pipeline remains strong going into the Autumn with the company benefitting from a number of key relationships.

Alastair Johnstone CEO stated: “We are delighted with this year’s results which have seen Allemby Hunt expand into new areas while growing existing areas of expertise where the business merited it.  While recognising the current nervousness of the market, we believe our relationships and professionalism will hold us in good stead for the future and allow us to consolidate our growing position in the market.”

Hugo Hunt MD added, “The addition of a new Private Wealth business in the summer of 2011 to our existing businesses and the expansion of our Contracts capabilities gives us an even stronger product offering which bodes well for the future.  Our clients and relationships remain key to our continued success in the future and we will seek to continue to increase our market share in the sectors in which we operate.”