Spencer Ogden realises 32.5 million turnover in third year of business
Spencer Ogden realises £32.5 million turnover in third year of business
Spencer Ogden reports a 74 per cent increase in turnover in 2012 and an increase in net fee income of 93 per cent. The global recruitment agency generated £32.5 million in 2012, compared to £18.67 million in the preceding 12 months.
In 2012 the company achieved a net fee income of £10.8 million, while EBIT on core operations totalled £2.8 million. Excluding exceptional investment, this figure represents a 180 per cent increase on 2011.
David Spencer-Percival, CEO of Spencer Ogden, comments: “2012 was another impressive year for Spencer Ogden, both in terms of development and investment. We continued to grow our presence in the global energy market and our team gained recognition for its skill and expertise. Out net fee income to EBIT conversion on core business returned 28 per cent which is exceptional.”
In 2012 Spencer Ogden expanded its international operations with new offices in Houston, Singapore, Calgary, Hong Kong, and Dubai, meaning the company now operates from eight bases around the world. The number of employees also rose markedly, doubling in a year. Spencer Ogden now employs 210 people across its Oil & Gas, Renewables, Smart, Power, Nuclear, Mining, Energy Trading and Energy Finance sectors.
Speaking of the company’s plans in 2013, Spencer-Percival says: “We have ambitious targets in place this year we expect growth to continue at a similar rate and turnover to reach £50 million. It will also be a significant year for investment. We will begin expanding out our core teams and will open at least four new offices to complement our existing portfolio.”
Spencer Ogden has twelve global graduate academies planned for 2013. As a result its workforce is set to increase by at least another 100 consultants.
“In 2012 we made a number of significant overseas investments and these will add to our headline figures as they mature. This year will be our most rewarding to date.” Spencer-Percival concludes.