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Fircroft on the right track as profits rise by almost a third

Fircroft on the right track as profits rise by almost a third

Global recruitment firm Fircroft saw revenue and profits rise by almost a third as the business reported its most successful year of trading in 2012.

The ambitious technical and engineering recruitment specialist saw a 32% increase in turnover last year compared with 2011 as sales climbed to &pound725m (US$1.19bn) in 2012.

Gross profit rose 30% from &pound37.7m (US$58.5m) to &pound49m (US$80m) over the same period.

The impressive growth of the firm – which specialises in recruiting technical staff for the Oil & Gas, Automotive, Power & Energy, Mining and General Engineering sectors – was underlined by Fircroft’s performance in Australia where sales rose 37% year-on-year.

Johnathan Johnson, CEO at Fircroft, said:  “While global economic growth remained decidedly sluggish in 2012, at Fircroft we have delivered sales and profits growth of almost a third.

“Last year’s exceptional performance saw us break the US$1bn sales barrier for the first time, and we believe we are primed for even greater growth in 2013.”

The strong performance of Fircroft was emboldened by the purchase of a 37% stake in the firm for &pound140m by the European investment group Equistone in June last year.

Fircroft also achieved its first top 10 ranking in the Sunday Times Top Track 250 last year after it climbed 31 places in the UK business survey from 41st in 2011.

The British-based firm, which operates in 45 countries and generates 80% of its revenue overseas, recently moved to new headquarters in Warrington, Cheshire.

Last month Fircroft signalled its commitment to international expansion by appointing Singaporean recruitment pioneer Dhirendra Shantilal to head up its Asia Pacific division as the recruiter aims to significantly grow its presence in the region. This follows on from the appointment of Philip Gore-Randall earlier this year as non-executive director.

Johnathan Johnson added: “The investment in Fircroft from Equistone is a huge endorsement of our future business plan and demonstrates the underlying strength and confidence in our company.

“We have a solid base for growth overseas where sales were up 36% in 2012.

“Expansion in the Asia Pacific region is a key strategic priority for us now and with the skills and expertise of Dhirendra on board we are prepared to bring Fircroft’s exceptional customer commitment to more businesses in Australia, China, India, Singapore, and the wider region.

Philip’s extensive experience in complex international businesses will be a major asset to us, as we continue to grow and develop our business.”

Over the last six years turnover has more than tripled at Fircroft and the firm now employs 527 members of staff worldwide.


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