Berry Recruitment turnover up 16%
The consultancy with 30 branches across the country has also recorded a 13%, year-on-year increase in EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization).
During the financial year it acquired London’s PRC Employment and Mainline Resourcing, which includes its specialist Express Rail Services Division.
This new expertise in & lsquo;rail’ and & lsquo;telecoms’ added to its existing areas of & lsquo;office’, & lsquo;industrial’, & lsquo;construction’, & lsquo;catering’, & lsquo;technical/IT’, & lsquo;driving’ and & lsquo;care’.
Berry Recruitment’s figures relate to the year ending December 31, 2014, and since then it has acquired The Plus Team and Headway Recruitment, both London-based.
This current year has started with turnover and profits exceeding its budget and Berry Recruitment’s projected turnover during 2015 is £56m.
The company, which has its headquarters in St Albans, Herts, has achieved its growth organically as well as through acquisition.
Berry Recruitment now employs more than 180 staff and recently moved Michelle Stewart to the group-level board. She co-founded Wild Recruitment in Portsmouth in 2001, which was acquired by Berry Recruitment a decade later.
Group Chairman Tony Berry said: “We are extremely pleased with the development of the business through 2014 and for the first quarter of this year.
“We have made several targeted acquisitions, which have given us new areas of expertise and a more prominent presence in London.
“We have also added significantly to our turnover and our cash resources within the last financial year, which is a great achievement.
“The hard work put in by our staff during the tough years of the recession has laid a solid foundation that we are now building on.
“We are aiming to expand our reach in professional and managerial level roles, while continuing to grow our core, existing business.
“With the economy improving and a positive outlook for employment we are confident of continuing our rapid growth.”
Employment data from the Office for National Statistics showed the number of vacancies rose to 743,000 in the first three months of this year, the highest level since at least 2001 when records began.
David Kern, Chief Economist at the British Chambers of Commerce (BCC), said: “The latest figures continue to highlight the dynamism and resilience of the UK labour market.
“Rising employment levels and falling unemployment supports our view that the UK economy will record steady growth in the first quarter, despite the recent disappointing construction and production figures.
“And it is very welcome news that wage increases are now higher than inflation and are boosting living standards.”
He added that youth unemployment must be tackled.