FINANCIALS: Gi Group sees growth
Thu, 28 Jun 2012
Multi-sector Gi Group Recruitment's UK operation saw turnover in 2011 reach £136.73m, up from £133.64m in the previous year.
Gross profit also grew, from £13.21m to £13.72m, but a rise in administrative expenses and ‘disposal related costs’ saw its operating profit fall to just £99k, having stood at £3.33m in 2010.
These disposal-related costs, of £2.88m, related to the acquisition of Gi Recruitment (formerly Draefern Holdings) by Gi Group Holdings Recruitment, according to the report accompanying the results.
The report also notes the “highly competitive marketplace”, and that “the directors remain optimistic about the future performance of the group”.