Technology recruiter ReThink Group has seen “good progress” across all divisions as it has seen profits rise in its interim results for the six months ended 30 June 2011.

The group’s results reveal:

• Profit before tax up 100% to £423,000 (H1 2010: £211,000)
• Gross profit (net fee income) up 32% to £7.8m (H1 2010: £5.9m)
• Gross revenues up 27% to £34.4m (H1 2010: £27.0m)
• Contract and recruitment process outsourcing (RPO) revenues up 26% to £30.0m (H1 2010: £23.8m)
• Permanent recruitment revenues up 24% to £2.6m (H1 2010: £2.1m)
• Business transformation and technology services division (Aiimi) revenues up 80% to £1.8m (H1 2010: £1.0m)
  
  

Chief executive Jon Butterfield says: “These are excellent results achieved despite very difficult market conditions. The ReThink Group has made good progress across all divisions, with every area of the business growing.

“Most encouraging is the organic growth the roup has achieved with net fee income increasing by 32%. The results from the majority of our quoted competitors have, on the whole, achieved little or no growth in the UK.

 “The acquisition of Berkley Recruitment in June 2011 expands the group’s reach into Asia, continental Europe and Ireland, and, at the same time, increases the group’s reach into new markets, such as the pharmaceutical and life sciences area.”

Meanwhile, the group has launched an RPO service, which will select and manage third-party suppliers, negotiate contracts and control costs, and oversee on-going recruitment of permanent and contract staff. Michael Sutherland, who joins ReThink from Project People, will lead the division.