Ninth year of revenue growth for Sanctuary Personnel
Sanctuary Personnel has reported a ninth consecutive increase in annual revenue.
The Ipswich-based group, a member of the Top 100 listing of the 100 largest companies based in Suffolk and Norfolk, saw turnover grow by 22% in the year to 31st October 2015, to £105.02m, following on from revenue growth of 41% in the previous 12 months.
In accounts newly filed at Companies House, Sanctuary says last year’s increase reflected continued growth in its social work business, including an increase in the amount of work undertaken by special project teams.
“The rate of growth is particularly pleasing given the continued pressures on public finances,” the company’s report said.
Operating profit dipped from £5.42m the previous year to £4.147m although the company says this largely reflected a one-off expense of £1m in relation to an irrecoverable loan, along with a dip in gross profit margin from 15% to 14%.
An increase in net interest charges left pre-tax profit for the year 27% lower at £3.441m. Net current assets (excluding long term debtors), however, increased to £3.009m at the year end, up from £2.556m a year earlier.
The report added, “The company’s key non-financial performance indicator is the weekly average number of workers it has out on plancement (sic). This has shown an increase of 23% over the course of the financial year.”
Original story sourced from Ipswich Star: http://www.ipswichstar.co.uk/news/ninth_year_of_revenue_growth_for_ipswich_recruitment_group_sanctuary_personnel_1_4650997
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