The results, released this morning, reveal the global specialist recruiter saw NFI rise to £13.15m from £13.1m in 2017.

However, the group also posted an annual drop in gross fee income – from £24.21m to £22.92m, while operating profit for the year was £1.19m, down from £1.9m in 2017.

Commenting on the group’s performance, Prime People managing director Peter Moore attributed the group’s drop in operating profit to £102,000 in costs related to the October 2017 acquisition of Command Recruitment Group; increases in staff costs particularly in Hong Kong where a new insights team was introduced; and an exceptional investment to maintain and improve the group’s customer relationship management systems. 

He also revealed that while in the UK the group’s permanent business performed well over the period, its international business fell below performance levels expected at the start of the year.

However, Moore added that the acquisition of Command Recruitment Group has enabled the group to extend its reach in Asia and the Middle East and is trading in line with expectations.

And in terms of the wider group, he expressed confidence the business is well positioned to exploit opportunities as they arise.