Redline Group half-year results show continued strong growth and surge in permanent fees
Both Contract and Permanent revenue and are up in the first six months of FY 2014-15, with Permanent surging ahead 12% on the same period last year. Net fee income is up 16% and gross profit rose by 6%.
Commenting on the results, Redline’s Managing Director, Martin Crapper said, “Demand for specialist Sales, Marketing, Engineering, Manufacturing and Management staff within the high technology / electronics sector has continued to grow. This coupled with the wider economic data indicating a continued decline in the availability of candidates has created a surge in requirement for Redline’s 30 years of experience, knowledge and candidate contacts. Theses external factors account for the opportunities out there but Redline still has to deliver an excellent service and product in one of the most competitive recruitment markets on the planet.”
Discussing the results, Crapper said, “Even though it’s early stages, we are already seeing the tremendous benefit of our strategic restructure earlier in the year, and the aggressive investment in new staff & training throughout 2014. Our dedicated Talent & Training Manager has been extremely effective this year, and very busy training a crop of new talent into our specialist Engineering, Sales/Marketing and Manufacturing recruitment teams. This has enabled us to drive the quality, quantity and efficiency of the services we offer to clients, improving the accuracy and time of strategic hires, and ultimately clients’ cost to hire.
“Our end of year forecasts look extremely encouraging as recent wins of significant new PSL appointments are yet to hit the revenue stream, and we are seeing no letup in the pace which new clients and vacancies are being acquired.
“This is our third successive quarter of growth and target achievement. I’m delighted with the dedication of the team, inspired with their success and impressed with HOW they’ve achieved this, as the testimonials from clients and candidates continue to flood in.”