Record result for Talent rewards bold strategy
Sydney, 18 August - Talent has delivered strong results for its FY 20 financial year with global revenue growing 14% USD 524 million (AUD 726 million, GBP 400 million) and global EBITDA growing by 13% year on year.
During the year, Talent’s APAC region continued its strong growth increasing EBITDA by 23% to AUD 16 million. Contract numbers have stayed strong representing 80% of Talent’s business while permanent revenue dropped by 30%.
Despite the global pandemic crisis, the APAC and EMEA regions have performed extremely well. Global EBITDA for the last quarter of FY 20 exceeded the comparable FY 19 quarter. With many markets in the US seizing up as a result of the pandemic Talent’s US business has been significantly impacted although positive signs of movement are beginning to be seen.
Commenting on the company’s ability to hold up so well in this climate, Executive Chairman Richard Earl said that there were a number of factors that could be attributed to this performance.
“As we near 25 years of being in business, a feature of our approach has always been the desire to push boundaries, go further and break from the pack. Our ethos is based around giving a damn, which is evidenced by the amazing work of our charity Talent RISE to support young people into employment, our leading role around the Future of Work with 100% Human, and Talent Engage which is elevating customer service and improving wellbeing amongst temporary and contracting workforces, something that is more important now than ever before.”
“Another major factor is the fact that Talent focuses exclusively on the tech and digital industry which has been without doubt one of the most resilient and buoyant sectors during this crisis. Our decision to focus on in this sector and to pursue certain niches some years ago is certainly now paying dividends.”
“Of course none of this is possible without a first rate leadership team so enormous credit must go to our Global CEO Mark Nielsen and the many leaders of this business who are unrelenting in their pursuit of new market opportunity and who are also operating a world-class back office infrastructure. Whilst the challenges of Covid-19 will no doubt persist for some time we remain excited by what we can achieve in the next 12 months as we continue to innovate and diversify," said Earl.
Mark Nielsen said Talent’s latest results were an indication the strong culture and customer relationships we had going in to the pandemic.
“Our business has a very clear vision and purpose that are underpinned by a strong values-based culture. Everyone has a clear idea of what they need to achieve both at an individual level and collectively as a company, which translates to a passionate mindset.”
“It is particularly pleasing that trading held up so well in the final quarter which was conducted as the pandemic crisis took hold. Talent’s resilient core recruitment business coupled with the growth opportunities we are experiencing in RPO Solutions and Project Management delivery through Avec Global, pose very well for this growth trajectory to continue,” said Nielsen.