Financials: NES revenue and profit drop ‘due to falling oil prices’

NES Global Talent has attributed a decline in both revenue and gross profit year-on-year to the falling price of oil.

The oil & gas, power and infrastructure staffing specialist’s results for the year ended 31 October 2016 were recently uploaded to Companies House.

The results reveal that group revenue fell to $801.9m (£626.1m) from $1bn in the previous year, while gross profit was also down, from $130m to $104m over the same period, which the group attributed to “significant uncertainties” in the oil & gas sector caused by a falling oil price since 2014.

On more positive note, the past year has seen the group successfully complete the acquisition of oil service company Frontica Advantage, while the recruiter adds it does not think Brexit will have a significant impact on the group.

Twitter Twitter
Net migration: Shutterstock

FINANCIALS: SThree sees rise in profits

SThree has seen overall profits rise despite challenging conditions for its UK & Ireland business, according to a trading update today.

Financials 15 September 2017

Renewable energy projects set to create thousands of jobs

Thousands of new jobs are to be created due to 11 new energy projects worth up to £176m per year in the latest competitive auction for renewable technologies.

12 September 2017

Consultants in Houston forced to use remote working

Recruiters with operations in flood-hit Houston have had to close their offices but their consultants are working remotely.

29 August 2017

Police investigate Offshore People over fraud claims

Cheshire Police have launched a fraud investigation into recruitment agency Offshore People after ex-military candidates claimed they were deceived into paying inflated prices for medical examinations and training courses for non-existent work.

29 August 2017
Top