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The STR Group announces best ever trading year

The STR Group announces best ever trading year

The STR Group has announced a 58% rise in turnover in 2012, following significant investment into new specialist companies. This increase has been primarily driven by growth seen in niche markets, strong client retention, new client wins and improved performance by the brands created.

Under the brands of Vortice Aviation, Navis Consulting, Medicor Global, Oleum Resourcing and Zavendi, the STR Group has quickly positioned itself as experts in their field, providing opportunities for further growth.  Navis Consulting, the Maritime recruitment company and the first of the rebrands, has seen a 107% increase in Gross Profit during 2012 alone.

Profit from operations reached its highest in 2012, with a year on year growth of 11.3%, and contract recruitment fees increased by a strong 74%, with a record number of contractors on assignment, right across the globe.

In response to the high volume of contractors, the company has also made significant investment into its Account & Payroll support functions, including additional personnel, to ensure the company is well-placed to handle significantly higher volumes of contractors and business.

Commenting on STR’s year-end trading, Richard Crawley, CEO of STR said  “Despite operating during the worst recession since WW2, we are proud and delighted with our year-end figures. We have seen a year on year growth in profits of around 11%, which is significantly higher than the 4% estimated average for the UK recruitment industry.

Our diversification strategy is continuing to deliver strong results and we are seeing unprecedented global demand for contract staff within our engineering, aviation, maritime and oil and gas sectors. We have made a number of changes to the company structure over the past 12 months, and this will position us well for continued growth during 2013”

The end of year financials were recently announced and celebrated at the Annual STR Group Conference. STR’s high achievers were recognised and rewarded for their success, with 16 members of staff invited on an all expenses paid trip to Las Vegas in May this year, and one consultant driving away in a brand new Toyota GT86.

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