Talent’s revenues increase 10% YoY
The Talent consolidated global group has announced its financial results for the financial year 2016.
The group, including its UK business, reported a 10% increase in revenue to $385m for the 2016 financial year. This growth was largely driven by strong revenue growth across its Australian and UK recruitment offices. In addition, Talent’s EBITDA grew by 25% year on year across its global business.
Mark Nielsen, Talent’s APAC CEO, commented that there have been a number of strong results across the Talent APAC branches. He said, “We have had exceptional growth across our Victorian and ACT locations in Australia, with major supply agreements won including the Victorian Government, Australia Post and the ATO.” NSW also posted a record profit.
Nielson added, “Australia is still very much a two-speed market with Talent’s Western Australian branch having had a challenging year due to the mining and resources downturn. However, Queensland and South Australia have held up well.”
Nielsen also confirmed that Talent’s Asian branches continue to achieve mixed results and Talent is currently scaling certain branches to ensure all perform to the required level.
Commenting further on the broader global business, founder and chairman, Richard Earl, said that the UK and Germany had experienced an exceptional year of growth and were performing well ahead of expectations.
He noted the immediate impact of the Brexit result, a period where clients largely suspended hiring decisions for a few weeks. Whilst the situation appears to have returned to normal, it remains a watching brief.
Earl commented, “Our outlook for the 2017 financial year remains extremely positive as we continue to see positive results from APAC and the UK.
“In the 12 months ahead, we will see a number of exciting initiatives to broaden revenue streams which includes developing a more comprehensive and diversified digital offering, the establishment of our operations in the US and importantly the roll out of Talent Engage, our new technology platform for supporting and developing the contractor workforce.
“A number of key executive appointments and acquisitions are well advanced or complete which we hope to announce in the next couple of months. This all bodes well for another record year ahead!”
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