Nakama Group confirms 5% increase in group revenue
Group revenue increased by 5 per cent. to £17.5m (2013: £16.7m)
PBTAE* £56,000 (2013: £9,000)
Group loss before taxation £121,000 (2013: Loss £219,000)
Net fee income improved by 9 per cent. to £4.4m (2013: £4.0m)
Net fee income percentage increased to 25 per cent. (2013: 24 per cent.)
No dividend recommended, but a resumption in dividend payments will be kept under review
* PBTAE - Profit before tax, amortisation and exceptional items (no exceptional items in the year (2013: £68,000)).
Global networks growing global client base creating increased blue chip clients
Contractors on client sites and permanent placements increased overall
Revenue across APAC region increased by 39 per cent. to £5.3m (2013: £3.8m)
Regional managing directors have been appointed in the Hong Kong and Singapore offices
Ken Ford, Chairman of Nakama, commented, "Our stated strategy of expanding into our specialist areas internationally is proving successful, but tough UK market conditions have had an impact on UK profits. Digital media recruitment both into agencies and into corporate global clients continues to grow and Highams' traditional business of providing technology, business and professional services staff to the insurance and financial services sector remains firm.
"With regard to APAC, we have continued to focus on our core objectives, namely business development across the corporate and agency sector encompassing a local, regional and global strategy. We aim to concentrate our efforts on expanding new and existing client relationships, cross-selling services globally, the continued hiring of staff in key locations, the training and development of existing staff and increasing the volume of business and conversion rates across the business.
"We look to 2014/2015 as a year in which the improved economic environment and a renewed and changing workforce will provide new and exciting opportunities. We look forward to leveraging off our specialism and brand and further developing our service offering with existing and new clients."