Bright Purple doubles turnover
Bright Purple doubles turnover and announces Singapore expansion
IT and Financial Services Recruitment specialists Bright Purple Resourcing has revealed plans to open an office in Singapore next month. The announcement comes on the back of the firms annual results showing a doubling in turnover to 37m up from 18.6m last year - and a rise in net profits to 1.4m in the 2010/2011 financial year.
Bright Purples Singapore operation, which will open in May, will be headed up by a new recruit to the business, Iain Geddes. Before spending the last two years based in Thailand with the Vinarco Group, Geddes worked in Edinburgh for 16 years as a director with Search Consultancy. In his new role he will focus on contract and permanent IT and Financial Services recruitment, targeting a number of key south-east Asian markets including Singapore, Malaysia, Hong Kong, Indonesia and Thailand.
The expansion into Asia comes off the back of Bright Purples focus to grow its business in global markets. The firm was supported by government agencies Scottish Enterprise and Scottish Development International in devising and rolling out a strategy for global growth.
Bright Purples Managing Director Nick Price said: We are delighted to have attracted a high calibre individual like Iain to our company who not only understands the south-east Asian market but also brings with him a strong Scottish work ethic which is known and respected in Singapore. This expansion offers huge opportunities for our business most of the nations in the area are currently experiencing double digit growth and many sectors including banking, manufacturing, shipping and telecoms are booming. The region is really calling out for people with business expertise to accommodate this rapid expansion and I believe we will be well-placed to capitalise on that.
Commenting on Bright Purples year end results, Price said: Were very pleased with our financial performance which was ahead of target. Its a very exciting time for Bright Purple - we have a clear goal, to create a 100m company within five years. We will be reinvesting much of our profits in our people and in new markets like Singapore to ensure we maintain this level growth to reach our destination.