Outsource sees growth of 23%
This growth has been achieved by an increased share of existing financial services customers’ business and by adding new customers to the portfolio. The financial services sector remains attractive as regulatory reform, and the digitalisation of many services, is driving the need for new talent.
Material growth has also occurred in the engineering division which now contributes 18% of the company’s revenues, a growth of 6% on prior year. The engineering division has focussed on building its capability within the specialist defence-based engineering markets.
Synergies have been exploited in compliance and vetting required for both the financial services and defence sectors building on existing capabilities. The ability to provide a high quality service into highly regulated markets is a key Outsource differentiator and a continuing area of investment.
During the year Outsource launched its public sector division and secured a place on the Government’s non-medical, non-clinical framework.
The management team has been further strengthened by the appointment of Nick Dettmar as COO and board director.
Commenting, Paul Jameson, chief executive said, “We have taken steps to strengthen our infrastructure to capitalise on improved trading conditions. This work will continue through 2015 as we look to implement our five year strategic plan. Chosen market sectors of financial services, engineering and the public sector continue to present opportunity for growth. We will build deeper specialist expertise within these markets as we expand our service portfolio.
We have committed future capital to build scale within the business which will help us continue our focus on delivering sustained compound growth whilst improving on efficiencies and productivity. We believe we can continue to outperform our sector by focussing on delivering a high quality service to our partners.”