Brightwork sales rise by 6.8% in 2015
Brightwork saw sales rise from £32.6m to £34.9m, a 6.8% increase, in the year to December 2015.
As a result of a £0.5m investment programme in the year, including the hiring of 17 new consultants, pre-tax profits were £767,000 compared to £860,000 in 2014.
Derek May (pictured), who was promoted from finance director to chief executive in course of the year, said, “We are committed to growing our market share in a highly competitive sector and our substantial investment in expanding consultant numbers, IT, marketing and training and development will generate future fee growth.
“We are well-placed also to grow by acquisition and are constantly surveying the market for potential opportunities which complement our existing operations.”
The year saw growth in all its divisions except in manufacturing, warehouse and distribution where there was a slight sales decline. Gross margin was up by 5.8% and the gross margin percentage was constant at 12%. Margin per fee earner was down by 10% at £101,557, reflecting the company’s investment in greater consultant numbers.
May added, “As a Group we strive to be recognised for the way we do business rather than how we do business.
“Corporate social responsibility, or “CSR”, is a key component.”
In 2015 Brightwork become the first company in its sector to be accredited as a Living Wage service provider and participates also in both the Movement to Work scheme and the Modern Apprenticeship scheme which gives vocational opportunities to 16-21 year olds to achieve NVQ qualifications while in full time employment. In addition, Brightwork staff participate voluntarily in a number of community initiatives throughout Scotland.
May commented, “As regards Brexit, our view is that while it creates a degree of uncertainty, we will seek to maximise any opportunities it offers while seeking also to mitigate any potential threats.”