Higher costs dent profits at Rullion

RECRUITMENT group Rullion, which provides permanent and temporary staff for the IT, construction, engineering and financial services industries, has seen revenue continue to rise.

But higher costs dented the group’s pre-tax profits for the year to December 2008.

The Altrincham-based business saw turnover lift 3.9% to £255.4m but pre-tax profits dropped 30% to £1.7m.

Rullion, which has offices across the North West as well as in London and Glasgow, recorded gross profits of £23.2m, up 4.5% in its latest filed accounts. But higher administrative expenses of £19.5m, up £2m, ate into these earnings.

In their report the directors said the group continued to increase market share and expand its services. They said the business is beginning to benefit from the integration of the firm’s front and back office systems which should be finished by the end of 2009.

The directors have opted not to pay a final dividend leaving payments for the year at £921,875, up from £496,500 last time.

Rullion, which was founded 30 years ago and owned by the Saoulli family, employs around 1,600 people.