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

APPOINTMENTS: 13-17 NOVEMBER 2017

This week’s appointments include: Hays, Heidrick & Struggles, HSBC, NRG, Opus Recruitment Solutions, The Recruit Venture Group, ZRG Partners

People 13 November 2017

Atkinson creates recruitment ‘supergroup’ Taranata

Recruitment magnate Paul Atkinson has brought his four businesses together under one ‘supergroup’ and announced plans to grow it by 50% in the next two years.

People 6 November 2017

APPOINTMENTS: 6-10 NOVEMBER 2017

This week’s appointments include: Armstrong Craven, Arrows Group, Class People, Core-Asset Verify, Eames Consulting Group, Entelo, Head Medical, INEOS Automotive, MOVE Guides, Pedersen & Partners, Randstad, Salt, Servoca, Zachary Daniels

People 6 November 2017

Dundee manufacturer brings 140 new jobs to the city

Dundee’s manufacturing sector is to be boosted by more than 100 new jobs in the city, according to Dundee’s Evening Telegraph.

1 November 2017
Top