Turnover up 3% YoY for Search Consultancy in 2017
Search Consultancy Group Limited has set its sights on business expansion following the release of its results for the 52 weeks to 1st January 2017.
Set against challenging market conditions, the business has reported EBITDA of £6.2m (2015 - £7.7m), year-on-year turnover growth, increasing 3% to £178.8m, as well as continued positive operating cash flow.
Despite market turbulence and challenging macro-economic conditions, the business saw continued growth in its permanent business with 2% year-on-year growth, representing a three-year compound annual growth of 8%. Meanwhile its contract business continued to provide a high-quality revenue stream, delivering 60% of the group’s total net fee income, with the contract base peaking at 6,700.
Chief executive, Grahame Caswell, who led a successful management buyout of the business in May this year, hailed the performance of the company’s 700 employees and the commitment of the business to invest in its people, reflected in its awarding of Platinum ‘Investors in People’, as key to the firm’s success. He is now firmly focused on further growth of the UK team with ambitious expansion plans, building on the MBO and investment reported earlier in the year. Since May, Search has already seen 30% growth in profits.
He said, “Search is continuing with its positive growth trajectory, and I am delighted we have been able to use our strong mix of business to ensure we are in a position for further growth for the period ahead.
“As always, it is the team at Search that sits at the heart of our continued success. We are passionate about bolstering that team, and we are now looking to grow our operations across the country. We know that our offering is only as good as our people, who on a daily basis provide an exceptional service to our clients and candidates.”
Photo courtesy of Shutterstock.com