Recruiter’s revenue climbs to £173.6m
RECRUITMENT specialist Search Consultancy has reported its highest ever turnover, strongest net fee income and underlying EBITDA results for the year to January 2016.
The consultancy, which has offices in Manchester and Liverpool, says turnover is £173.6m (up 11%), net fee income of £41.8m (up 8.6%) and a fifth consecutive year of underlying EBITDA growth at £7.7m (up 18.4%).
The recruiter’s contractor base peaked at 7,400 workers (a rise of 9.6%) and it made a net total of 8,520 permanent placements (up 3.7%).
Chief executive Grahame Caswell said the board was satisfied with the mix of business between contract and permanent placements and hailed Search’s “exceptional people” as instrumental in its success.
He said: “Search has continued to build on its strong track record of growth and I am delighted to report that the results are the best in the group’s history.
“Our net fee income and underlying EBITDA growth was driven by an expanding workforce of fee earners as the group continued to invest in people to secure future growth. Our five year track record of EBITDA growth demonstrates the success of our business model.
“The contract business continues to provide a high quality revenue stream arising from repeat business with a blue chip customer base, while our permanent business has delivered three year compound annual growth of 12%.”
He added: “Search’s people remain the key to its success – our service is only as good as our people, whose passion to deliver exceptional recruitment services to both candidates and clients lies at the heart of our business.”
