Sigmar Q3 NFI up 17% YoY
Sigmar Recruitment, today reports an increase of 17% in its Net Fee Income (NFI) in comparison to the same period last year.
The Irish company reported its income was evenly spread across its three service lines; Specialist Staffing, Managed Service Solutions and Professional Contingent Staffing with particular strong growth in the banking & finance and IT sectors. Sigmar Recruitment reported its public sector recruitment also remained solid with Sigmar adding multiple managed services contracts to its portfolio over the same period.
Q3 NFI was up 11.6% on the previous quarter, the first full quarterly period since the Brexit referendum in June.
Sigmar Recruitment’s chief commercial officer, Robert Mac Giolla Phádraig (pictured), commented, “Q3 was a record period for us at Sigmar, the highest NFI since we began trading in 2002. This is a result of being highly focused on doing the simple things right consistently, while going further for all stakeholders (our 4 Cs: Colleagues, Clients, Candidates and Community) always. This growth is in line with our planned expansion strategy, announced in July to more than double our workforce over the next 3 years.”
Commenting on the Irish market, Mac Giolla Phadraig, added, “The most notable spike in demand is across Banking & Finance, which seems to have been stimulated by the ongoing uncertainly around Brexit. Although the Central Bank of Ireland has reduced GDP outlook to 4.9% for 2016, Ireland remains set to be the fastest growing economy in Europe for the third year running. We have seen a steady flow of Foreign Direct Investment into Ireland over the summer months which bodes well for the foreseeable."