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INITIO INTERNATIONAL HOLDINGS LIMITED ANNOUNCES THE RESULTS OF ITS FIRST FULL YEAR OF TRADING

INITIO INTERNATIONAL HOLDINGS LIMITED ANNOUNCES THE RESULTS OF ITS FIRST FULL YEAR OF TRADING

Initio International today announced the results of its first full independent financial year to December 31st 2010, which have been filed at Companies House.

Brendan Flood, Chairman and CEO of Initio International said: “2010 was a challenging year for recruitment companies generally, coming out of recession but still with a high level of uncertainty. I am hugely pleased with the results driven by our management teams in the USA, UK and Spain. Our Turnover was &pound37.8m, Gross Profit was &pound8.7m (23% Margin) and Profit After Tax was &pound1.9m.

This is a great start to our journey and current trading is showing a healthy 15% growth in Turnover, in 2011. Our focus on providing excellent service to clients and candidates continues to be our number one priority.”

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