Hydrogen Group release year end results
First year of 2016 strategy: good progress made on strategic initiatives
9% increase in International NFI: international business now represents 44% of total (2012: 41%) 17% increase in Technical and Scientific business, generating 45% of total NFI (2012: 39%)
Contract NFI up by 5% to £16.9m, a new record (2012: £16.1m)
Candidates placed in more than 80 countries (2012: more than 70)
Productivity per head of £90k at highest level since 2007 (2007: £99k)
Investment for growth:
New offices opened in USA and Norway
Headcount increased to 383 at year end (2012: 368)
Relocation into modern, single-site London HQ
Enhanced IT and CRM systems o Completion of rebranding exercise: all practices now unified under single Hydrogen brand
Tim Smeaton, CEO, commented, “2013 was a milestone year for Hydrogen. We embarked on a new strategy to deliver the next stage of growth to 2016 and we made significant investments in people, practices, new locations, infrastructure and systems.
"We recognised that the immediate impact of this increased investment could be a reduction in short term profits. We remain confident that, with our current focus on growth and our high operational gearing, we are well positioned to scale up the business.”
Ian Temple, chairman, said that following the company’s successful international expansion, the company will be concentrating on infrastructure and establishing hubs based on client demand, particularly in USA, Asia and Australia.
Temple added that the company’s success in Singapore was a good example of what the company could achieve with the right strategy in place.
The UK business represented 55% of overall business in 2013 and increasing growth for the UK is firmly on the agenda for the company.
Of the overall goal for 2014, Temple says, “It’s pretty simple, we will be growing our client base. We will look for clients and get people on the ground."
Pictured: Ian Temple, chairman