Search Group’s EBITDA up 40% in 2018
The Search Group has reported its results for 2018.
The business has reported (all on a proforma basis) EBITDA of £8.8m (2017 - £6.3m), up 40%, turnover of £221m (2017 - £184m) and net fee income of £52.8m (2017 - £41.2m). It also demonstrated strong cash generation, reporting £8m in the period.
The acquisition of Henderson Scott International Group Limited completed in August 2018. Its impact has been recognised as part of the 2018 growth.
Stuart Dick, Search Group CFO, said, “We’re delighted by the results we’ve seen emerge from our work in 2018 and this is testament to our people and their efforts throughout the year.
“The acquisition of Henderson Scott was a significant development for the company and almost a year on; I am delighted with the positive impact of the acquisition, enhancing the group’s reputation in the technology space and bringing greater scale and reach.
“Against a backdrop of political and economic uncertainty, as well as increasingly complex and fast-moving regulatory changes, the UK employment market is one where skills shortages have never been more of an issue for business. I am proud of the role that Search plays, delivering value and expertise to its clients.”
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