NES Global Talents profit increases to record high
Turnover has increased by 6% to over $1billion, $1,038.4m (£676m), in the same financial period, compared to $977.4m (£636.3m) in 2013, and net fee income increased by 13% from $120.4m (£78.4m) to $135.5m (£88.2m).
As well as further strengthening its financial performance, NES Global Talent has continued with its strategic global expansion plan, opening new offices in Shekhou, China New Plymouth, New Zealand and Yokohama, Japan and completing the acquisition of RC Consultants AS in Norway.
This acquisition did not have a significant impact on the results for the year. Subsequent to year end, the acquisition of Energy People AS was completed, also in Norway.
The group now has 45 offices across 28 different countries and will continue to open new operations in global locations in the forthcoming financial year.
Commenting on the results, Stephen Buckley, Group CFO at NES Global Talent, said: “To grow our profits by 22% in 2014 is a fantastic achievement in the current market environment, and is testament to our strong business model and financing structure, as well as the outstanding quality of our global staff. Although the current climate in our core sector, oil and gas, is difficult, we have started our new financial year well and anticipate continuing our growth both organically by increasing market share and by completing further selective acquisitions.”
Tig Gilliam, CEO of NES Global Talent, said: “The focus on contractor service, continued investment in talent and training throughout our business, as well as ongoing cost optimisation have allowed us to outgrow the market while maintaining strong underlying profitability.”