HCIGs rapid expansion continues with strong mid-year results
HCIG’s rapid expansion continues with strong mid-year results
Human Capital investment Group (HCIG) continues to produce & lsquo;gold-winning’ performances despite challenging economic conditions and the distraction of the London Olympics, with mid-year results revealing net fee income is up 19% and EBIT is up 34% year-on-year with all nine recruitment companies in the Group ahead of budget.
With turnover growing to £150m this year and headcount increasing from 265 employees this time last year to 352 today, HCIG has reversed the recruitment sector’s contraction trend with its entrepreneurial model of joint ventures (JVs) and new acquisitions while investing in and growing its existing businesses.
Resourcing Group is now the fastest growing company in the portfolio, up 45% in net fee income and 60% in EBIT year-on-year while the Synergy Group’s EBIT is up by 61%.
Social care recruiter Caritas is up 18% in net fee income year-on-year, with HCIG cornerstone Eden Brown posting solid growth. Other specialist recruitment brands in the Group - ewi recruitment, attenti, En-Spiral and Visir continue to expand winning new contracts and attracting top quartile consultants.
Adam Herron, Group COO, HCIG comments: "Our real success in the last year has been organic growth in our existing businesses taking market share away from the competition, in addition to this our & lsquo;buy and build’ strategy continues to be a winning formula for HCIG. Over the past 12 months we have successfully achieved our aim of having a greater proportion of our work in the private sector as well as increasing the volume of business coming from permanent recruitment.
“This year has also seen significant growth in technical markets particularly trades, maintenance and facilities management, as well as in social housing, social care and technical work in international markets.
“HCIG’s aggressive hiring plans are paying off with headcount growth of nearly 100 staff in the last year already contributing to HCIG profits and overall staff numbers are on track to reach more than 500 by this time next year. We have also made several key executive hires ensuring the right senior management team is in place for further growth.”
Tristan Ramus, Group Chairman further adds “Sales for HCIG companies have increased from £50-£150 million between 2007 and 2012 and through our variety of brands we offer companies a quick route to dramatically increasing their market share.
“We are currently evaluating a number of acquisition and joint venture opportunities, where we can grow companies through increased efficiencies and strategic direction, giving them the ability to attract, retain and develop the right talent which is integral to the success of any business.”