Rise in profit at Search Consultancy
Net Fee Income (gross profit) was up 8 per cent to £32.5 million from £30.1 million in 2012. Revenue was £135.4 million, up 8.4 per cent on the previous 12 months.
Employing on average 520 permanent staff in 13 locations throughout the UK, Search Consultancy provides specialist recruitment services across a range of industry sectors.
Chief Executive Grahame Caswell said the company had remained profitable at the operating profit level throughout the economic downturn, emerging a “stronger and leaner” business.
He added, “Search’s undoubted strengths lie in creating and developing strong client relationships and recruiting and retaining the very best talent in the marketplace. We are already starting to capitalise on our strategic development and on the market opportunities that have presented themselves during 2013 and early 2014.
“I am also delighted to report a very strong start to 2014, with the business having recorded Net Fee Income of £9.2million in the first quarter, some 30 per cent up on the same quarter last year. With continued confidence in the economy as we move through 2014, I believe the climate in the UK is now one in which the very best staffing companies can thrive.”
A breakdown of 2013 Net Fee Income by sector showed year on year increases across virtually all sectors, including Professional Services, Medical, Construction, Engineering, Call Centre, Office Services and Industrial.
Search’s strengths are highlighted in the work it is currently undertaking as the official recruitment consultancy to the Glasgow 2014 Commonwealth Games.