FINANCIALS: Cross Country Healthcare revenue climbs

US healthcare recruiter Cross Country Healthcare has seen revenue climb 6% year-on-year, according to results for the quarter ended 30 September 2017.

The results, released yesterday, reveal revenue of $228.5m (£172.3m), up 6% on the same quarter last year.

However the group posted gross profit margin of 26.5%, down 60 basis points year-on-year and down 50 basis points sequentially, which it attributes mainly to the impact of its June 2017 acquisition of the assets of nurse staffing company Advantage RN.

Commenting on the results, president and CEO William Grubbs said: “We have recovered from the lower operating margins earlier in the year and are growing into the investments made in recruiters and candidate attraction. I am particularly pleased that we are on track for another record year of winning new MSPs [managed services providers] that should support our current momentum.”

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