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Recruitment group NRG toasts its annual profits

Recruitment group NRG toasts its annual profits

Recruitment group NRG is toasting a 72% increase in annual profits after growing its business in a number of key sectors.

The Newcastle headquartered company saw turnover rise by &pound2m to &pound21.6m in the 12 months to December 2011, with pre-tax profits up to &pound1.1m from &pound640,000 a year earlier.

Chief executive Lorna Moran said the growth had been driven by high demand for professional staff in the finance, IT and engineering sectors and for executive search and selection services (the headhunting side of the business). Despite the constraints on public sector spending there was still growth in higher and further education and in social housing.

The company’s managed services division – high-volume recruitment of permanent and temporary workers – also had healthy growth, including financial services and utilities.

NRG grew its own fee-earning staff across its three offices by 10 to 100 during the year and expects that number to grow again in 2012.

“The first quarter of 2012 is up on the first quarter last year, however we don’t feel we are back up to full levels of confidence yet among all of our clients as there is still a lot of uncertainty about,” said Moran.

NRG has scaled down its programmes aimed at boosting the opportunities for senior staff made redundant as a result of the recession.

“That is a good news story for the region because we no longer see the desperate need for the support that we did a few years ago,” said Moran.

NRG managing director Therese Liddle said the results for 2011 were encouraging and the group was optimistic about the current year.

“In today’s climate we’re finding clients deliberate carefully before embarking on major recruitment but they want the assurance of an effective partner who can move fast and won’t take short cuts in the process,” she said.

“It paid off for our clients and for us last year.”


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