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RP International announces 24% increase in gross profit

RP International has announced positive year end results to 30th April 2013 with a 24% increase in gross profit.

Improved administration and financial systems, a series of key senior hires and the opening of an office in Germany will ensure they are set to continue this upward trend.

With more than adequate financing facilities available for future expansion, the Group continues to look for opportunities to extend its services and expand the business

Key financials:

?             In comparison to the prior year, turnover has increased by 6.1% to &pound22.15m

?             Gross Profit after sales costs has increased by 24% to &pound3.18m

?             Operating Profit after foreign exchange was a healthy &pound717k

?             Improved cash generation from the business over the last 12 months and a reduction in net debt of &pound1.16 million

?             An increase of 36% in the number of interim managers engaged on projects at the year end point

?             A positive move towards more senior search assignments with average remuneration levels rising by 48%

Investment:

?             Since the year end The Group has made a series of senior hires to bring further specialist expertise and experience to the three major operating regions of Europe, MEA and APAC

?             The administration and financial systems have been improved to maximise efficiency and there is ongoing investment in cloud based IT in the current year

Expansion:

?             German legal entity incorporated in September 2013, with a trading office in Stuttgart in order to better service its European clients

?             Profitable and exceeding budget, with more than adequate financing facilities are available for future expansion

Stuart Wilson, Chief Executive Officer of RP International, commented:

"I am delighted to report that a rise in profitability has gone hand in hand with a period of significant investment and expansion.

Our Group strategy of growth and investment continues as does the trend towards increased average remuneration levels through senior search assignments, alongside a rise in interim management projects.

The Board are pleased with the recent additions to the senior management team, bringing with them significant knowledge and experience that will be instrumental in driving our next growth phase.”

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